SunstarTV Bureau: Former Economic Affairs Secretary Atanu Chakraborty is anticipated to be the next chairperson of the country’s largest private sector lender HDFC.
According to official source, Atanu Chakraborty is next in line to be the chairperson of HDFC. Though, the appointment 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 current chairperson of the board, Shyamala Gopinath is scheduled to retire on 1 January.
“We wish to inform you that pursuant to the recommendations of the Nomination and Remuneration Committee, the Board of Directors of HDFC Bank Ltd (the Bank) 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,” HDFC Bank said in a notice to exchanges last evening. “Further disclosure in this regard will be made after receipt of communication from the Reserve Bank of India.”
The appointment assumes significance as the bank had recently undergone a leadership transition, with its long time MD and CEO Aditya Puri retiring in October, and Sashidhar Jagdishan taking his place.
Chakraborty is a seasoned bureaucrat, and had served as the economic affairs secretary until his superannuation on 30 April. In his long career as a civil servant, Chakraborty held several important positions, including that of the secretary in the Ministry of Finance -in the economic affairs department and divestment department.
He was the secretary in the Department of Investment and Public Asset Management (DIPAM) between 2018 and 2019, and economic affairs secretary from 2019 to April 2020. Chakraborty also held the position of the Director General of Hydrocarbons (DGH) in the petroleum ministry in the past.