HDFC Bank Stocks Plunge as Chairman Resigns Over Ethics Concerns

nk shares faced a sharp sell-off on Thursday after part-time chairman Atanu Chakraborty resigned, citing fundamental disagreements over the lender’s "values and ethics." The news triggered a 5% drop in domestic shares and a 7% slide in its US-listed counterparts, dragging the broader Bank Nifty index down by 3%. The Departure In a resignation letter that sent ripples through the financial sector, Chakraborty stated that certain "happenings and practices" observed over the last two years did not align with his personal principles. While he did not provide specific details regarding these practices, the vague yet serious nature of his "ethics" claim has sparked investor anxiety regarding corporate governance at India’s largest private-sector lender.