Post by : Shakul

HDFC Bank shares fell nearly 5% in early trading on the Bombay Stock Exchange, emerging as one of the top losers among benchmark indices. The decline came after the sudden resignation of part-time chairman Atanu Chakraborty, which triggered concerns among investors.

Chakraborty stepped down citing issues related to “values and ethics” within the bank. His remarks have raised questions around internal governance, especially as such statements are uncommon in exits from major private sector banks.

To stabilise the situation, the Reserve Bank of India approved Keki Mistry as interim chairman for three months. His experience and long association with the HDFC group are seen as reassuring for the market.

Analysts believe the fall was driven both by governance concerns and broader market pressure, including rising oil prices and global tensions. Investors are now watching for further clarity from the bank, as sentiment may remain cautious in the near term.

#India News #Business News