MUMBAI, March 19 -- A day after HDFC Bank chairman Atanu Chakraborty resigned citing ethical concerns, the bank's interim leadership moved swiftly to steady nerves, saying the allegations "defy logic" and flag no material issues.

Interim chairman Keki Mistry said on Thursday that discussions so far had thrown up no operational or governance lapses. "Based on our discussions, there were no specific happenings and practices that were brought to our attention. There were no specific operational or other issues that have been highlighted," he said, hours after being elevated to the role.

The bank said in a separate statement that while Chakraborty's resignation letter was dated 17 March, it was received at 3:17 pm on Wednesday, 18 March.

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