RBI approves transition plan after HDFC Bank chairman’s resignation
The Hindu
RBI approves HDFC Bank's chairman transition plan, affirming the bank's strong financials and competent management.
The Reserve Bank of India (RBI) said it has taken note of the recent developments in HDFC Bank, where its part-time chairman Atanu Chakrabort had resigned.
It said a transition arrangement as requested by the Bank has been approved as regards the position of part-time chairman of the Bank.
The RBI said HDFC Bank is a Domestic Systemically Important Bank (D-SIB) with sound financials, a professionally run board and competent management team.
“Basis our periodical assessment, there are no material concerns on record as regards its conduct or governance. The bank remains well-capitalised and the financial position of the bank remains satisfactory with sufficient liquidity,” it said in a statement.
Reserve Bank will continue to engage with the Board and management on the way forward, it said.
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