Author: Varta24 Business

Internal Rifts and Executive Exit Spark $16 Billion Sell-Off at HDFC Bank

Bank

MUMBAI – HDFC Bank, India’s largest private lender, is facing intense scrutiny following the sudden resignation of its chairman, Atanu Chakraborty. The exit triggered a massive stock market rout, wiping out $16 billion in market value and raising serious questions about the bank’s internal management. Chakraborty stepped down earlier this month, citing “differences over values and ethics.” While he did not provide specific details, reports suggest the resignation stems from long-standing friction between him and the bank’s CEO, Sashidhar Jagdishan. Boardroom Clashes Sources familiar with the matter indicate that the two leaders frequently disagreed over bank strategy and human resources…

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