New Delhi, March 19 -- Brokerage firm Macquarie Capital removed HDFC Bank from its 'Marquee Buy' list following the abrupt resignation of its part-time chairman Atanu Chakraborty, said media reports. This raised fresh concerns around corporate governance at the country's largest private lender.

Chakraborty stepped down with immediate effect, stating that certain developments and practices at the bank over the past two years were not aligned with his "personal values and ethics." His exit, despite being in his second term after joining the board in May 2021, has triggered investor caution and intensified scrutiny.

This led to an over 8% decline in its stocks to 52-week low of Rs.772 on BSE on Thursday, March 19.

Despite this, the broker...