HDFC Bank shares are going through a period of decline. There has been a decline of about 12 percent in three days. The decline began when the bank’s non-executive chairman Atanu Chakraborty suddenly resigned, citing differences over “values and ethics”. The special thing is that on Monday there was a decline of about 5 percent in the shares of the country’s largest private bank. Let us also tell you how HDFC Bank investors lost more than Rs 1.5 lakh crore in three trading days.
Record fall in bank shares
On Monday, shares of HDFC Bank, the country’s largest private bank, fell by 4.70 per cent and closed at Rs 743.75 on BSE. During the day, it fell as much as 5 per cent to Rs 740.95 — its 52-week low. On NSE, the stock declined by 4.65 per cent and closed at Rs 744.15. After 11.76 percent fall in the bank’s shares in the last 3 trading days, the market valuation of the company has declined by Rs 1,52,064.22 crore to Rs 11,44,778.71 crore.
Why are Arai shares falling?
HDFC Bank’s non-executive chairman Atanu Chakraborty has suddenly resigned, citing differences over “values and ethics”. The management of the country’s second largest bank described this basis as “surprising”. Also said that despite repeated requests, the former bureaucrat did not give any specific reason or incident for his resignation. Keki Mistry, an experienced member of HDFC Bank Group, was appointed interim chairman after Chakraborty’s resignation. He said there may have been “some issues regarding mutual relations” between Chakraborty and the bank’s executive leadership, but he did not see any “concrete” reason or concern behind the resignation. Mistry stressed that the bank’s functioning and governance remained stable.
What was written in the resignation letter?
This is the first time that a part-time chairman of HDFC Bank has stepped down before the completion of his tenure, which has raised concerns about the functioning of the bank. In his resignation letter written on March 17, he had said that in the last two years, I have seen some incidents and practices within the bank, which are not in accordance with my personal values and ethics. This is the basis of my above decision. In a letter addressed to Governance, Nomination and Remuneration Committee (NRC) Chairman HK Bhanwala, Chakraborty said that there is no other important reason behind my resignation other than those mentioned above. In a filing late Wednesday evening, HDFC Bank said Chakraborty has resigned from the post of part-time chairman and independent director of the bank with immediate effect on March 18, 2026.