Atanu Chakraborty likely to be next HDFC Bank Chairman

Former Secretary of Economic Affairs Atanu Chakraborty is expected to be the next Chairman of HDFC Bank. The nomination is subject to the approval of the Reserve Bank of India.

Upon authorized by RBI, Chakraborty—a 1985 batch IAS officer of the Gujarat Cadre may take over as part-time chairman of HDFC Bank in January. The term of its present part-time chairperson, Shyamala Gopinath, will end on 1 January.

While HDFC Bank refused to comment, Chakraborty said to the Indian Express this. “I do not wish to comment on this matter as it is a communication between two different entities, the bank and RBI. I would like to say that I have not thought about it and as of now there is no job on my mind.”

IAS Officer Of Gujarat Cadre

Chakraborty is a 1985 Indian Administrative Services officer of the Gujarat Cadre. He holds a postgraduate degree in corporate finance and an MBA from the UK. From 6 November 2014 to 11 April2016, he worked as Managing Director and Executive Director of Gujarat State Petronet Ltd. He worked in the districts of Vadodara and Sabarkantha, and was a collector of Amreli.

Chakraborty has more than 22 years of experience serving in different central and state government agencies. He has also worked in revenue, banking, home, water and education, as well as public sector enterprises.

Atanu Chakraborty as HDFC Bank Chairman

Though Chakraborty retired as Secretary of Economic Affairs in April, the Bureau Memorandum of the Department of Personnel and Training states that any retired Group A official is expected to seek the permission of the Government if he takes up commercial employment within one year of retirement.

When asked about the same he said; “I haven’t thought about any job as of now but there are certain standard rules for civil servants and I would follow them.”

Earlier, on Monday, the Bank told the stock exchanges that; “The Board of Directors of HDFC Bank Ltd (‘the Bank’) recommended the appointment of the Part-Time Chairperson of the Bank. It has submitted its recommendation to Reserve Bank of India for approval under Section 35B of the Banking Regulation Act, 1949.”

Chakraborty is a veteran bureaucrat who served as Secretary of Economic Affairs until his retirement on 30 April. In his long career as a civil servant, Chakraborty held a number of key posts. This includes the Secretary of the Ministry of Finance—in the Department of Economic Affairs and the Department of Disposal.

In the past, Chakraborty has held the rank of Director General of Hydrocarbons (DGH) in the Ministry of Petroleum.

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