Chakraborty played a key role in the massive $40 billion HDFC merger.
His sudden exit is the first midterm resignation by a part-time chairman of HDFC Bank, shaking up investor confidence: HDFC's U.S.-listed shares dropped 7.5% after the news.

To keep things steady, Keki Mistry (HDFC Group veteran) has stepped in as interim chairman starting March 19, 2026, for a period of three months, with the Reserve Bank of India's approval.
The good news? The RBI says there are no big concerns about how things are being run at HDFC Bank despite this leadership change.