Power Struggle at the Helm: HDFC Bank's Leadership Rift

The resignation of HDFC Bank's former chairman Atanu Chakraborty was due to a power struggle with the chief executive, Sashidhar Jagdishan. Chakraborty opposed extending Jagdishan's tenure, but most board members supported it. The report was cited by the Financial Times, and Reuters could not verify it.

In a dramatic turn of events at HDFC Bank, former chairman Atanu Chakraborty resigned following a power struggle with current chief executive Sashidhar Jagdishan. This information was disclosed by the Financial Times, citing reliable sources.

The conflict reportedly arose due to Chakraborty's opposition to the extension of Jagdishan's tenure. However, as the report states, a majority of the board members were in favor of continuing Jagdishan's leadership.

Reuters attempted to verify the report but was unable to obtain confirmation immediately.

(With inputs from agencies.)