India, March 19 -- In a bid to choose personal ethics, Atanu Chakraborty's resignation from HDFC Bank Ltd has caused major panic on Dalal Street on Thursday. The former part-time chairman stated he would be stepping down with immediate effect due to a breakdown in the alignment between internal practices within the bank and personal ethics.

In an interview with NDTV Profit, the former IAS officer added that his "ideologies did not match with the organisation, and hence it was time to part ways."

Following Chakraborty's immediate resignation, the Reserve Bank of India named HDFC's CEO Keki Mistry as the interim chairman. Mistry has assured governance stability and business continuity as HDFC sees one of its worst days since the Covid-19 ...