New Delhi, April 18 (IANS) HDFC Bank on Saturday said the process for re-appointing its Managing Director and CEO Sashidhar Jagdishan will be taken up ‘in due course’, with the bank’s nomination and remuneration committee (NRC) currently seized of the matter.Responding to a query by NDTV Profit, Deputy Managing Director Kaizad Bharucha said the committee will take a final call on Jagdishan’s reappointment at an appropriate time.Jagdishan’s current tenure is set to end in October 2026.M…
Latest Keki Mistry News & Updates
New Delhi, April 17 (IANS) K. Krithivasan, Chief Executive Officer and Managing Director of Tata Consultancy Services, on Friday detailed a series of measures undertaken by the company in response to the controversy surrounding the Nashik TCS conversion case, as it moved to address concerns and ensure a transparent probe.In a formal statement, Krithivasan said the company has not received any complaints under its Prevention of Sexual Harassment (POSH) framework in connection with the matter.He a…
New Delhi, March 27 (IANS) Major global leading brokerage Jefferies has exited its holdings in HDFC Bank and reduced its India exposure across key portfolios, following the resignation of the lender’s part-time chairman Atanu Chakraborty.In its latest “Greed & Fear” report, Jefferies strategist Chris Woods said the firm has removed HDFC Bank from its Asia ex-Japan long-only equity portfolio, global long-only equity portfolio, and international long-only equity portfolio (ex-USA). No sp…
Mumbai, March 24 (IANS) Largest private lender HDFC Bank said its Board has approved the appointment of external law firms, both domestic and international, to review the resignation letter of former part-time Chairman and Independent Director, Atanu Chakraborty, in a move aimed at reinforcing governance standards.The decision was made at a Board meeting on March 23, with the law firms tasked with reviewing the contents of Chakraborty’s resignation and submitting their report within a reasonab…
Mumbai, March 19 (IANS) HDFC Bank CEO Sashidhar Jagdishan on Thursday said former Chairman Atanu Chakraborty was asked by the board to reconsider his resignation and explain the ethics-related concerns he raised, but he chose not to do so.Speaking to reporters after the development, Jagdishan said that every board member had tried to persuade Chakraborty to either withdraw his resignation or provide more details about the issues mentioned in his letter.”The board also requested him to reconsider…
Mumbai, March 19 (IANS) As the Reserve Bank of India (RBI) approved the appointment of veteran banker Keki Mistry as the interim part-time Chairman of HDFC Bank for a period of three months, effective March 19, the bank held a conference call with analysts. During the interaction, Mistry said he accepted the role as it aligned with his personal values and principles. “At 71, I would not have taken up this responsibility if it did not align with my values and principles,” he said.He added that th…
New Delhi, March 19 (IANS) The Reserve Bank of India (RBI) on Thursday said that HDFC Bank is a Domestic Systemically Important Bank (D-SIB) with sound financials, professionally run board and competent management team, after the resignation of part-time chairman Atanu Chakraborty over alleged “ethical differences” in one of the biggest private lenders.The Central Bank said in a statement that it has taken note of the recent developments in HDFC Bank. “A transition arrangement as requested…
Mumbai, March 19 (IANS) India’s largest lender HDFC Bank’s equities came under sharp selling pressure globally on Thursday, with its American Depositary Receipts (ADR) plunging 8 per cent to $26.42 from the previous close of $28.71.In the domestic market, shares of the country’s largest private lender were among the top laggards, falling as much as 8.66 per cent to hit an intraday low of Rs 770, compared to the previous close of Rs 843.The decline comes amid a key management development, as HD…