HDFC Bank Chairman Atanu Chakraborty resigns, citing differences with management

Two different people with direct knowledge of the matter said that it was the Reserve Bank of India that expressed discomfort with the continuation of Zaveri on the board of the bank. Zaveri is part of the promoter group at Aurionpro Solutions — a tech vendor to the bank. The company is headed by Zaveri’s brother, Paresh Zaveri, as CEO and MD. "Certain happenings and practices within the bank, that I have observed over the last two years, are not in congruence with my personal Values and Ethics. This is the basis of my aforementioned decision,” Chakraborty stated in his resignation letter.... [3188 chars]