Mumbai/IBNS, March 19 -- Atanu Chakraborty, part-time chairman and independent director of HDFC Bank, resigned with immediate effect on Thursday, citing ethical concerns, media reports said.

In his resignation letter, Chakraborty said he was not aligned with certain decisions taken by the bank over the past two years.

Reflecting on his tenure, Chakraborty said the period saw major developments, including the merger of the bank with HDFC Ltd, which created a financial conglomerate and made HDFC Bank the second-largest bank in the country.

He noted, however, that the full benefits of the merger are yet to be realised.

Following his exit, the Reserve Bank of India has approved the appointment of Keki Mistry as the interim part-time chair...