One of the defining characteristics of mature consumer markets is not simply the abundance of products, but the quality of consumer decision-making. Across sectors, rising financial awareness, easier access to information and digital discovery are changing what people choose to buy and how they
Imagine reaching retirement with a bond portfolio that works like a staircase. One bond matures this year, another next year, and another the year after, giving you access to money at different points instead of having to unlock the entire investment at once
Augmont Enterprises IPO Day 2: The initial public offering (IPO) of integrated gold and silver platform Augmont Enterprises Ltd is witnessing its second day of bidding today, August 24. So far, the public issue has been subscribed 2.88 times. The Rs 825-crore IPO
Gold prices remain high in India; check 22K, 24K rates in Mumbai, Delhi, Bengaluru International gold prices also climbed to a more than three-month high on Monday. Published on: Aug 24, 2026, 13:46:24 IST By HT News Desk Prefer HTon Google Share via Copy link Gold prices remained high in India on
Nearly three-fourth of large-cap active funds underperformed a blended (LargeMidCap) benchmark over a 10-year period, according to the 2025 report by SPIVA (S&P Indices Versus Active). In this article, we discuss two reasons that could, perhaps
Indian Stock Market Today, August 24: The domestic equity markets opened higher on Monday, but gains remained measured as investors continued to track elevated crude oil prices and geopolitical tensions in West Asia. At 9:16 am, the BSE Sensex was up 205 points, or 0.26%, at 77,746.06
Businesses from India and the U.S. have expressed interest in investing in Bangladesh and made proposals to improve the country's investment climate, Commerce Minister Khandakar Abdul Muktadir has said. Mr. Muktadir’s remarks on Saturday (August 22
Minimalistic retractable door handles became a signature feature of electric vehicles (EVs), but the controversial designs are now at the centre of China's biggest car recall, affecting more than 4 million vehicles. The recall, which includes 2.98 million Chinese-made Teslas
HDFC Bank Chairman exit puts spotlight on CEO amid rumbles of top-level acrimony
HDFC Bank Chairman exit puts spotlight on CEO amid rumbles of top-level acrimony
HDFC Bank Chairman exit puts spotlight on CEO amid rumbles of top-level acrimony
In 2024, Atanu Chakraborty blocked CEO Sashidhar Jagdishan's proposal to bring in Japan's MUFG as a strategic partner in HDFC Bank's consumer finance arm.
Updated on: Mar 30, 2026 2:23 PM IST Reuters Share via Copy link The surprise resignation of HDFC Bank Ltd.'s part-time chairman that wiped out $16 billion from the market capitalisation of India's biggest private lender, has put its CEO in the spotlight amid rumbles of acrimony in top management and unease about its underperformance versus peers. Sashidhar Jagdishan, whose term as CEO ends in October 2026 unless extended, took over the helm from Aditya Puri in 2020. (Mint) On 18 March, Atanu Chakraborty resigned from HDFC Bank, citing differences over "values and ethics", triggering a stock selloff and a damage control exercise by the bank. While he did not elaborate on the differences he referred to, nine people, including board members and some current and former staff, told Reuters that the bank had been struggling with internal rifts in recent years, including between Chakraborty and CEO Sashidhar Jagdishan. The two clashed over the bank's strategy and its HR policy, said the people with knowledge of the matter. They declined to be named due to the sensitivity of the matter. The HDFC Bank management and India's banking regulator denied any governance or financial problems at the lender, but its stock fell 12% over three days after Chakraborty's exit. It recovered briefly after the bank said last week it had appointed external law firms to review the claims, and has weakened again. Investor concerns about HDFC Bank's management come at a particularly inconvenient time for the lender: the Iran war is set to weigh on the Indian economy and dim the outlook for credit growth in the banking sector. “Investors will eventually look at longer-term performance but if the quarterly results and stock prices underperform markets, shareholders will ask questions of management performance and seek change of leadership,” InGovern founder Shriram Subramanian told Reuters. InGovern is a corporate governance research and proxy advisory firm.Boardroom Friction
Jagdishan, whose term as CEO ends in October 2026 unless extended, took over the helm from HDFC Bank founder and CEO Aditya Puri in 2020. Chakraborty joined as chairman in April 2021. The former top bureaucrat soon began involving himself closely in operational and management matters—an unusual move for a non-executive director in an Indian corporate boardroom, four of the people cited earlier said. He also intervened in HR policy as a member of the nomination and remuneration committee and, in at least one instance, changed the performance ratings of some senior executives—a prerogative of the chief executive officer, according to another former senior executive. HDFC Bank did not respond to a request for comment from Jagdishan sent via the bank's official spokesperson. In 2024, Chakraborty opposed a proposal to approve an equity investment by Japan's Mitsubishi UFJ Financial Group in HDFC Bank's consumer finance arm. While Jagdishan advocated bringing in a foreign lender as a strategic partner, the former chairman opposed the move, arguing against the involvement of a foreign entity in an Indian company and objecting to the lack of a bidding process in a potential investment, the people said. The plan ultimately collapsed. Chakraborty, when asked by Reuters whether there were persistent differences with the CEO and if these had been raised at the board level, said: “There is a structure to handling various governance and accountability issues,” Chakraborty told Reuters over a text message, when asked whether there were persistent differences with the CEO and if those had been raised at the board level. “If the issues need a finality in the board, then they are placed there. It's a well-laid-out process and it evolves along with changing times,” he said, without elaborating or commenting on other questions. Besides the differences between the two, the relationship of Jagdishan with some other top executives has also been a concern for investors and staff. That concern came to the fore in an analyst call that the bank held after Chakraborty's resignation. When asked on the call if there was a power struggle at the management level, especially between the CEO and Deputy MD Kaizad Barucha or other top executives, Jagdishan played down those concerns. “Kaizad is a very dear colleague, and I have the highest regard and respect for him,” he said on the call, and added that Barucha, who has the responsibility for the bank's entire loan book, “will only get more responsibilities as we move forward”. Barucha did not respond to Reuters request for comment.HDFC Merger Overhang
The board acrimony also adds to concerns internally about limited gains from the lender's $40 billion merger with its largest shareholder in 2023, and about a stock that has underperformed peers over the past five years, the people said. HDFC Bank's absorption of housing financier HDFC Ltd. in 2023 added assets of ₹7.23 lakh crore but brought in a relatively small deposit base, squeezing margins, hurting returns and dragging on growth. The bank's lending margin has dipped to 3.35% now from 4.1% before the merger. It also had to slow asset growth to help steady its loan-to-deposit ratio, which rose to around 110% post merger from 86%–87% prior to it. ALSO READ | A perfect storm was brewing against HDFC Bank even before Iran war, chairman exit While the CEO inevitably bears some responsibility when a stock underperforms, the bank's challenges stem from merger-related execution risks, said Gary Tan, a portfolio manager in the emerging markets equity team at Allspring Global Investments, which owns HDFC shares. Steve Lawrence, CIO of US-based Balfour Capital Group, said that the current situation at HDFC Bank was one of “cyclical execution pressure rather than structural leadership failure”. “Markets demand clarity—and when execution visibility declines, leadership perception becomes a factor in valuation compression,” he said. Hdfc Bank Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator News / Business / HDFC Bank Chairman Exit Puts Spotlight On CEO Amid Rumbles Of Top-level Acrimony See LessThe surprise resignation of HDFC Bank Ltd.'s part-time chairman that wiped out $16 billion from the market capitalisation of India's biggest private lender, has put its CEO in the spotlight amid rumbles of acrimony in top management and unease about its underperformance versus peers.
On 18 March, Atanu Chakraborty resigned from HDFC Bank, citing differences over "values and ethics", triggering a stock selloff and a damage control exercise by the bank. While he did not elaborate on the differences he referred to, nine people, including board members and some current and former staff, told Reuters that the bank had been struggling with internal rifts in recent years, including between Chakraborty and CEO Sashidhar Jagdishan.
The two clashed over the bank's strategy and its HR policy, said the people with knowledge of the matter. They declined to be named due to the sensitivity of the matter.
The HDFC Bank management and India's banking regulator denied any governance or financial problems at the lender, but its stock fell 12% over three days after Chakraborty's exit. It recovered briefly after the bank said last week it had appointed external law firms to review the claims, and has weakened again.
Investor concerns about HDFC Bank's management come at a particularly inconvenient time for the lender: the Iran war is set to weigh on the Indian economy and dim the outlook for credit growth in the banking sector.
“Investors will eventually look at longer-term performance but if the quarterly results and stock prices underperform markets, shareholders will ask questions of management performance and seek change of leadership,” InGovern founder Shriram Subramanian told Reuters. InGovern is a corporate governance research and proxy advisory firm.
Chakraborty joined as chairman in April 2021. The former top bureaucrat soon began involving himself closely in operational and management matters—an unusual move for a non-executive director in an Indian corporate boardroom, four of the people cited earlier said.
He also intervened in HR policy as a member of the nomination and remuneration committee and, in at least one instance, changed the performance ratings of some senior executives—a prerogative of the chief executive officer, according to another former senior executive.
HDFC Bank did not respond to a request for comment from Jagdishan sent via the bank's official spokesperson.
In 2024, Chakraborty opposed a proposal to approve an equity investment by Japan's Mitsubishi UFJ Financial Group in HDFC Bank's consumer finance arm. While Jagdishan advocated bringing in a foreign lender as a strategic partner, the former chairman opposed the move, arguing against the involvement of a foreign entity in an Indian company and objecting to the lack of a bidding process in a potential investment, the people said. The plan ultimately collapsed.
Chakraborty, when asked by Reuters whether there were persistent differences with the CEO and if these had been raised at the board level, said:
“There is a structure to handling various governance and accountability issues,” Chakraborty told Reuters over a text message, when asked whether there were persistent differences with the CEO and if those had been raised at the board level. “If the issues need a finality in the board, then they are placed there. It's a well-laid-out process and it evolves along with changing times,” he said, without elaborating or commenting on other questions.
Besides the differences between the two, the relationship of Jagdishan with some other top executives has also been a concern for investors and staff. That concern came to the fore in an analyst call that the bank held after Chakraborty's resignation.
When asked on the call if there was a power struggle at the management level, especially between the CEO and Deputy MD Kaizad Barucha or other top executives, Jagdishan played down those concerns.
“Kaizad is a very dear colleague, and I have the highest regard and respect for him,” he said on the call, and added that Barucha, who has the responsibility for the bank's entire loan book, “will only get more responsibilities as we move forward”.
Barucha did not respond to Reuters request for comment.
HDFC Bank's absorption of housing financier HDFC Ltd. in 2023 added assets of ₹7.23 lakh crore but brought in a relatively small deposit base, squeezing margins, hurting returns and dragging on growth.
The bank's lending margin has dipped to 3.35% now from 4.1% before the merger. It also had to slow asset growth to help steady its loan-to-deposit ratio, which rose to around 110% post merger from 86%–87% prior to it.
ALSO READ | A perfect storm was brewing against HDFC Bank even before Iran war, chairman exit
While the CEO inevitably bears some responsibility when a stock underperforms, the bank's challenges stem from merger-related execution risks, said Gary Tan, a portfolio manager in the emerging markets equity team at Allspring Global Investments, which owns HDFC shares.
Steve Lawrence, CIO of US-based Balfour Capital Group, said that the current situation at HDFC Bank was one of “cyclical execution pressure rather than structural leadership failure”.
“Markets demand clarity—and when execution visibility declines, leadership perception becomes a factor in valuation compression,” he said.
Source: HindustanTimes
Related Posts: HDFC Bank,HDFC Bank chairman,Atanu Chakraborty,HDFC Bank CEO,Sashidhar Jagdishan,Keki Mistry
Tempsens Instruments India IPO Day 3: The initial public offering (IPO) of temperature sensing and heating solutions provider Tempsens Instruments Ltd is witnessing its final day of bidding today, August 24. So far, the public issue has been subscribed by a strong 31.34 times. The Rs 650-crore IPO
11 hours ago
S&P 500 just hit a level seen only once before in 155 years — could a market crash be next? The S&P 500 CAPE ratio hit 40 for only the second time in 155 years, raising concerns about valuations, future returns and a possible market correction. Updated on: Aug 23, 2026
14 hours ago
Anthropic $2 trillion IPO: Why investors think it could be worth more than SpaceX Anthropic could reach a $2 trillion IPO valuation as revenue surges, raising questions about whether the AI company can be worth more than SpaceX. Published on: Aug 23, 2026
14 hours ago
US President Donald Trump has said Canada wants "the benefits of being a State, without being one" after trade talks between the two countries collapsed late on Friday. In his first comments since negotiations broke down, triggering new 50% US tariffs on a range of Canadian goods
1 days ago
India’s payments sector has raised $5.8 billion across 371 equity funding rounds since January 2021, while producing eight initial public offerings (IPOs) and triggering 25 acquisitions, as the industry increasingly consolidates around a handful of well-funded players
1 days ago
Can Reddit survive in the AI era? It wants more cash for its data—and more of people’s time Published on: Aug 22, 2026, 16:40:48 IST The Economist Prefer HTon Google Share via Copy link Earlier this summer “Backrooms”, a horror flick, became one of the most successful independent films ever
1 days ago
What with a 250th birthday, Taylor Swift's wedding and the football World Cup, Americans could be forgiven for taking their eye off the ball this summer. But signs of economic trouble have been building. This week they hit the headlines when US national debt passed the $40tn (£29.4tn) mark
1 days ago
Insurance regulator IRDAI has directed Edelweiss Life Insurance and Pramerica Life Insurance, in separate orders on August 20, not to open new place of business for six months for non-compliance with Expenses of Management (EoM) limits in 2024-25
2 days ago
India remains a very attractive destination for global investments and its economic fundamentals form the basis for strong investor confidence, Jyoti Jeetun, the Minister of Financial Services and Economic Planning of Mauritius told The Hindu in an interview
2 days ago
A fresh wave of US tariffs on a wide array of Canadian goods has come into effect as of midnight on Saturday after a last minute break down in trade talks. Announcing the suspension of negotiations shortly before the Friday night deadline, Canadian Prime Minister Mark Carney said he would impose
2 days ago
TCS Employee Surveillance Row: Tata Consultancy Services (TCS), India’s largest IT services company, on Friday denied reports that it is using monitoring tools to track individual employee activity on company-issued laptops. The IT giant said the purpose of the tools is to monitor the overall
2 days ago
Walmart stock falls 9% as retailer finally brings Apple Pay, Google Pay Walmart stock fell 9% after earnings despite beating estimates and raising guidance. The retailer will add Apple Pay and Google Pay Tap to Pay from August 24. Updated on: Aug 21, 2026
2 days ago
TikTok has agreed to pay $400m (£293m) to the US to end a lawsuit alleging its platform violated children‘s privacy, marking one of the largest ever settlements over the issue. The deal stems from a 2024 suit by the Department of Justice under former President Joe Biden alleging TikTok and its
2 days ago
What’s next for Nvidia after the AI chip boom? Wall Street wants more—here’s what investors need to know Nvidia stock faces high expectations ahead of August 26 earnings as Wall Street watches AI growth, valuation, open-source models and Nvidia's next big story. Updated on: Aug 22, 2026
2 days ago
Costco dividend rises: Why a $10,000 investment pays only $61 yearly A $10,000 Costco investment earns only about $61 a year in regular dividends. Here’s why investors still buy COST for growth and special dividends. Updated on: Aug 20, 2026
3 days ago
Leaving education, getting a job, buying a home and perhaps starting a family: the path previous generations followed may seem a distant dream to many now. But is it getting a bit easier - at least when it comes to getting on the housing ladder? Today's prospective first-time buyers may well feel
3 days ago
Nearly six months after US President Donald Trump vowed a swift victory over Iran, the conflict appears to be at a standstill, with prospects of a military victory or negotiated settlement growing dimmer. To break the deadlock, Trump has vowed an "economic D-Day" under which any country that does
3 days ago
Why US stocks fell today: Dow, S&P 500, Nasdaq drop as oil and bond yields rise US stocks fell as oil prices and Treasury yields rose. Dow, S&P 500 and Nasdaq dropped as Trump's Iran threat, Walmart and the bond market hit Wall Street. Published on: Aug 20, 2026
3 days ago
Crypto stocks surge as Trump backs Clarity Act: Coinbase, Circle, miners rise Crypto stocks surge as Trump backs the Clarity Act. Coinbase, Circle, Bitcoin miners and other crypto shares rise as investors expect clearer US crypto rules. Updated on: Aug 20, 2026
4 days ago
Stock Market Today, August 20: The domestic equity market snapped its seven-day losing streak and ended sharply higher on Thursday, August 20, as broad-based buying lifted sentiment across sectors after the US Treasury stepped in to contain the surge in global bond yields
4 days ago
The Reserve Bank of India RBI has accorded its approval to Life Insurance Corporation of India (LIC) for acquiring an aggregate holding of up to 9.99% of the paid-up share capital or voting rights in HDFC Bank Ltd., the bank said in a filing with the exchanges on Wednesday (August 19, 2026) night
4 days ago
Customers have shared their outrage after an app used by many businesses to track timesheets and produce invoices hiked bills by as much as 1500%, with one person calling it "daylight robbery". Richard Haldenby, head of UK consultancy firm Salentis
4 days ago
Bitcoin Price Today, August 20: Bitcoin surged to the $70,000 mark on Thursday, recording one of its sharpest gains in recent months as a combination of lower US Treasury yields, a weaker dollar, strong institutional demand and large-scale short liquidations pushed the broader cryptocurrency market
4 days ago
US President Donald Trump has said he will launch tougher economic measures against Iran, as well as any country and that helps or does business with the country. He wrote in all capital letters on Truth Social that he was launching "the most crushing economic operation ever taken against any
4 days ago
The domestic equity markets were trading firmly higher on Thursday, August 20, with buying visible across large-cap, mid-cap and small-cap stocks. The gains strengthened through the session, with the benchmark Sensex rising more than 600 points by 1:20 pm
4 days ago
U.S. President Donald Trump will host cryptocurrency executives at the White House on Wednesday as U.S. financial regulators this week prepare to advance their framework for certain digital assets. Trump, who has earned more than $1.4 billion from his family’s crypto ventures
4 days ago
Telecom inflation, chargers and the number 45, and Small Talk ASL app Beyond the regular noise, a closer look at personal technology. 20 August 2026. Published on: Aug 20, 2026, 08:00:58 IST By Vishal Mathur Prefer HTon Google Share via Copy link Opening thoughts. Josh Staub
4 days ago
