HDFC Bank's interim chairman Keki Mistry has sought to reassure investors and stakeholders that the bank remains stable following the sudden resignation of chairman Atanu Chakraborty.
Mistry emphasized that the board remains committed to maintaining confidence in the country's largest private-sector lender and that there are no material concerns.
The reassurance came after Atanu Chakraborty stepped down citing ethical concerns, stating that certain practices within the bank were not in line with his personal values and ethics.
HDFC Bank's US-listed shares fell about 8% after the announcement, while its Mumbai-listed shares closed marginally lower before the news was disclosed.
