Power Struggle at HDFC: A Boardroom Drama Unfolds

A conflict with the CEO led to the resignation of HDFC's chair. Chakraborty opposed extending the tenure of HDFC Bank CEO Jagdishan, despite most board members supporting him, according to Financial Times reports. This power dynamics highlights tensions within the upper echelons of the banking institution.

A power struggle within HDFC has resulted in the resignation of the company's chair, according to the Financial Times.

The disagreement centered around the extension of HDFC Bank CEO Jagdishan's tenure, with board member Chakraborty expressing opposition. However, most of the board supported the CEO.

This internal conflict underscores a palpable tension in HDFC's leadership, raising questions about future governance and stability within the prominent banking group.

(With inputs from agencies.)