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Business News/ Companies / News/  Atanu Chakraborty likely to be next HDFC Bank chair
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Atanu Chakraborty likely to be next HDFC Bank chair

The incumbent part-time chairperson of the board, Shyamala Gopinath, is set to retire on 1 January

Chakraborty is a seasoned bureaucrat and last served as the economic affairs secretary until his superannuation on 30 April.Premium
Chakraborty is a seasoned bureaucrat and last served as the economic affairs secretary until his superannuation on 30 April.

Former economic affairs secretary Atanu Chakraborty is set to be appointed as the next chairperson of India’s largest private sector lender HDFC Bank, said one person aware of the matter. The appointment, however, is subject to the Reserve Bank of India’s approval.

The board of HDFC Bank cleared Chakraborty’s name for the position of part-time chairperson of the bank in its meeting held on Monday. The incumbent part-time chairperson of the board, Shyamala Gopinath, is set to retire on 1 January.

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“We wish to inform you that pursuant to the recommendations of the nomination and remuneration committee, the board of directors of HDFC Bank Ltd at its meeting held today, has recommended the appointment of the part-time chairperson of the bank and has submitted its recommendation to the Reserve Bank of India for approval under Section 35B of the Banking Regulation Act, 1949. Further disclosure in this regard will be made after receipt of communication from the RBI," HDFC Bank said in a notice to the stock exchanges last evening.

The appointment assumes significance as the private lender had recently undergone a leadership change, with its long time managing director and chief executive officer, Aditya Puri, retiring in October, and Sashidhar Jagdishan taking over.

Chakraborty is a seasoned bureaucrat and last served as the economic affairs secretary until his superannuation on 30 April.

Chakraborty held several important positions, including that of the secretary in the ministry of finance, both in the department of economic affairs, as well as divestment.

Chakraborty was the secretary of the department of investment and public asset management (Dipam) from 2018 to 2019 and the economic affairs secretary from May 2019 to April 2020. He had earlier held the position of the Director General of Hydrocarbons (DGH) in the petroleum ministry.

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ABOUT THE AUTHOR
Gopika Gopakumar
Gopika Gopakumar has worked for over 15 years as a banking journalist across print and television media. Her expertise lies in breaking big corporate stories and producing news based TV shows. She was part of the 2013 IMF Journalism Fellowship Program where she covered the Annual & Spring meetings of the International Monetary Fund in Washington D.C. She started her career with CNBC-TV18, where she also produced a news feature show called Indianomics and an award winning show on business stories from South India called Up South. She joined Mint in 2016.
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Published: 30 Dec 2020, 07:48 AM IST
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