Atanu Chakraborty denies resignation led to HDFC Bank stock price erosion, admits minor impact

Atanu Chakraborty denied that his resignation led to the sharp fall in HDFC Bank shares, while admitting it may have had a limited impact. Speaking to CNBC-TV18, he said the “value erosion… had been happening for various reasons even before that” and added that linking the decline to his exit was “wrongly portrayed, and I completely refute that”. He, however, acknowledged that “perhaps my resignation also added a little bit”.

His remarks come 12 days after his abrupt exit, which followed concerns flagged over “incongruence” with his values. The bank’s board said it was unaware of the issues, while the RBI issued a rare reassurance, stating it had found no material concerns. Since his departure, the stock has dropped about 13%, eroding nearly ₹1.6 lakh crore in market value. Chakraborty also rejected suggestions of insinuation, saying there was “none whatsoever” in his letter and stressed the need to address root causes rather than “ticking the box” on governance.By CNBCTV18March 30, 2026, 7:01:37 PM IST (Updated)Continue ReadingFirst Published: Mar 30, 2026 7:01 PM IST

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