{"id":9171,"date":"2026-03-19T04:36:58","date_gmt":"2026-03-19T04:36:58","guid":{"rendered":"https:\/\/christiancorner.us\/index.php\/2026\/03\/19\/hdfc-bank-shares-fall-5-as-part-time-chairman-of-indias-largest-private-bank-resigns-over-ethics\/"},"modified":"2026-03-19T04:36:59","modified_gmt":"2026-03-19T04:36:59","slug":"hdfc-bank-shares-fall-5-as-part-time-chairman-of-indias-largest-private-bank-resigns-over-ethics","status":"publish","type":"post","link":"https:\/\/christiancorner.us\/index.php\/2026\/03\/19\/hdfc-bank-shares-fall-5-as-part-time-chairman-of-indias-largest-private-bank-resigns-over-ethics\/","title":{"rendered":"HDFC Bank shares fall 5% as part-time chairman of India&#8217;s largest private bank resigns over &#8216;ethics&#8217;"},"content":{"rendered":"<p>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107266386\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>With the merger between HDFC Bank and HDFC, this entity has now become the fourth largest bank in the world.<\/p>\n<p>Nurfoto | Nurfoto | getty images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Indian shares <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">hdfc bank<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>    It fell 5% on Thursday after its part-time chairman Atanu Chakraborty resigned <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bseindia.com\/xml-data\/corpfiling\/AttachLive\/d2bfc245-aaf7-4931-969f-d092337405f4.pdf\">footpath <\/a>Governance and ethical concerns within the organization.<\/p>\n<p>During an investor call on Thursday, Keki Mistry, the interim part-time chairman, said Chakraborty had not provided any evidence or details of the alleged unethical practices to the board.<\/p>\n<p>&#8220;Certain incidents and practices within the bank, which I have observed over the past two years, are not consistent with my personal values \u200b\u200band ethics,&#8221; Chakraborty said in his resignation letter.<\/p>\n<p>Foreign institutional investors hold more than 47% stake in India&#8217;s largest private sector lender. The Singapore government and Norway&#8217;s Government Pension Fund Global are among the top foreign investors in HDFC Bank, holding about 2.3% and over 1.2% stake respectively.<\/p>\n<p>The middle and junior levels of the organization &#8220;should form the core of a revamped organisation&#8221;, Chakraborty said in his resignation letter dated March 17, which was handed over to HDFC Bank during late market hours on Wednesday.<\/p>\n<p>Mistry&#8217;s appointment is a &#8220;strong firefighting step&#8221;, Deven Choksey, founder and managing director of wealth management firm DRChoksey Finserv, said in a note on Thursday. <\/p>\n<p>He warned that HDFC shares could see &#8220;significant selling pressure&#8221;, and advised investors to avoid &#8220;bottom fishing&#8221; until governance concerns are resolved.<\/p>\n<p>HDFC Bank and India&#8217;s banking system regulator, the Reserve Bank of India, did not immediately respond to emails seeking comment. <\/p>\n<p>As of Wednesday, HDFC Bank&#8217;s market cap stood at Rs 13.08 trillion ($140 billion), according to LSEG data, higher than the Rs 9.95 trillion valuation of State Bank of India, the country&#8217;s largest public sector lender.<\/p>\n<\/div>\n<div class=\"ArticleBody-googlePreferredSourceContainer\" data-module=\"GooglePreferredSource\" data-id=\"RegularArticle-GooglePreferredSource-5\">Choose CNBC as your favorite source on Google and never miss a moment of the most trusted name in business news.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>With the merger between HDFC Bank and HDFC, this entity has now become the fourth largest bank in the world. Nurfoto | Nurfoto | getty images Indian shares hdfc bank It fell 5% on Thursday after its part-time chairman Atanu Chakraborty resigned footpath Governance and ethical concerns within the organization. During an investor call on<\/p>\n","protected":false},"author":1,"featured_media":9172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[1346,788,3940,905,3937,3939,1390,3938,2357,3496,1475],"class_list":{"0":"post-9171","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bible-news","8":"tag-bank","9":"tag-chairman","10":"tag-ethics","11":"tag-fall","12":"tag-hdfc","13":"tag-indias","14":"tag-largest","15":"tag-parttime","16":"tag-private","17":"tag-resigns","18":"tag-shares"},"_links":{"self":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts\/9171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/comments?post=9171"}],"version-history":[{"count":1,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts\/9171\/revisions"}],"predecessor-version":[{"id":9173,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts\/9171\/revisions\/9173"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/media\/9172"}],"wp:attachment":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/media?parent=9171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/categories?post=9171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/tags?post=9171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}