HDFC Bank Limited has announced that the Reserve Bank of India (RBI) has given the green light for the reappointment of Atanu Chakraborty as the part-time chairman of the bank, effective from May 5, 2024, for a three-year term. Following RBI's approval and upon the recommendation of the Nomination and Remuneration Committee, the bank's board of directors has endorsed the reappointment of Atanu Chakraborty as part-time chairman and independent director.
Chakraborty has no familial ties to any other directors or key managerial personnel within the bank. Additionally, the bank clarified that he has not been barred from serving as a director by any orders from the Securities and Exchange Board of India (SEBI) or any other relevant authority.
Currently, Atanu Chakraborty holds the positions of part-time chairman and independent director at HDFC Bank Limited. Prior to his tenure with the bank, he dedicated 35 years to serving the Government of India as a member of the Indian Administrative Service (IAS) within the Gujarat cadre. His expertise lies predominantly in finance and economic policy, alongside substantial experience in infrastructure, petroleum, and natural gas sectors. Chakraborty has occupied significant roles, including serving as the secretary in the Ministry of Finance, Department of Economic Affairs (DEA), during the fiscal year 20.
During his tenure as secretary (DEA), Chakraborty spearheaded economic policymaking coordination across all ministries and departments. He oversaw the entire process of formulating the budget for the Union of India, including its parliamentary approval. His responsibilities extended to crafting fiscal management policies, overseeing public debt management, and nurturing the development and regulation of financial markets. Additionally, he managed matters pertaining to financial stability, currency, and both domestic and foreign financial affairs. Chakraborty played a pivotal role in managing funds from multilateral and bilateral financial institutions, maintaining multiple interfaces with them. Furthermore, he led a diverse task force that contributed to the creation of the National Infrastructure Pipeline (NIP).