No material concerns at HDFC Bank, says RBI after chairman's exit
India Today
In a statement, the central bank said it has taken note of the recent developments at HDFC Bank and has approved the transition arrangement proposed by the bank for the position of part-time chairman.
The Reserve Bank of India (RBI) on Thursday sought to reassure investors on HDFC Bank, saying there are no material concerns regarding the lender’s conduct or governance following the sudden resignation of its part-time chairman Atanu Chakraborty.
In a statement, the central bank said it has taken note of the recent developments at HDFC Bank and has approved the transition arrangement proposed by the bank for the position of part-time chairman.
HDFC Bank had earlier appointed Keki Mistry as interim chairman for a period of three months, a move that has now received regulatory approval.
The central bank said HDFC Bank remains a "Domestic Systemically Important Bank" with strong fundamentals.
“HDFC Bank is a Domestic Systemically Important Bank with sound financials, professionally run board and competent management team,” the RBI said.
It added that, based on its periodic assessment, there are no material concerns on record regarding the bank’s conduct or governance. The regulator also noted that the bank remains well-capitalised, with a satisfactory financial position and sufficient liquidity.
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