Atanu Chakraborty Earned ₹1.07 Cr In FY26 Before Quitting HDFC Bank Board

HDFC Bank's FY26 Annual Report has disclosed the remuneration paid to former Part-time Chairman and Independent Director Atanu Chakraborty during the financial year, along with the Board's response to his resignation.

According to the report, Chakraborty was paid a total of ₹1.07 crore during the financial year, excluding a provision for an official and personal use car until March 18, 2026. This included ₹48.25 lakh as fixed salary and ₹59 lakh in sitting fees for attending Board and Committee meetings.

The bank said the Reserve Bank of India (RBI) had approved a fixed remuneration of ₹50 lakh for the full financial year. Since Chakraborty resigned on March 18, 2026, he was paid ₹48.25 lakh on a proportionate basis. He was also provided a car for official and personal use until his resignation, the report said.

The annual report noted the Board's "sincere appreciation" for the "wise counsel" provided by Chakraborty during his tenure at the bank.

CEO's Message On Resignation

In his message to shareholders, Managing Director and CEO Sashidhar Jagdishan described Chakraborty's resignation as a "challenging event" for HDFC Bank. He said that after obtaining RBI approval, the Board swiftly appointed Keki Mistry as Interim Part-time Chairman.

Jagdishan added that the bank commissioned an independent legal review after concerns raised in Chakraborty's resignation letter regarding governance standards at the bank. According to him, the review was conducted by domestic and international law firms under the oversight of a Special Committee of Independent Directors, and examined Board minutes, communications and interviews covering the two years preceding Chakraborty's resignation.

He said the findings, shared by the bank on June 26, concluded that the statement in Chakraborty's resignation letter and its implications "were not substantiated by the record reviewed and witness interviews."

In a separate message to shareholders, Interim Chairman Keki Mistry said Chakraborty's resignation had led to speculation over the bank's governance standards. He reiterated that HDFC Bank remains "strongly rooted in strong corporate governance principles and values."

Mistry said the Board had proactively appointed external law firms and constituted a Special Committee of Independent Directors to oversee the review. He also reaffirmed the bank's commitment to the highest standards of transparency, accountability and oversight.