• Chairman resignation: Following the resignation of part-time Chairman Atanu Chakraborty, the board assured stakeholders that there are no underlying operational, regulatory, or material governance issues, noting that Chakraborty cited personal value alignment without specifying concrete concerns.
• Interim chairmanship: The Reserve Bank of India approved the appointment of Keki Mistry as interim part-time chairman for a period of 3 months to maintain institutional stability and board oversight.
• Executive leadership continuity: The bank dismissed reports of executive power struggles, noting that Deputy Managing Director Kaizad Bharucha's term was extended for 3 years and the MD & CEO reappointment will be addressed by the Nomination and Remuneration Committee in due course.
• Internal governance standards: Management and board members emphasized that the bank maintains robust audit, risk management, and regulatory compliance frameworks, backed by continuous oversight and complete unity across the executive team.