Former Financial Affairs Secretary Atanu Chakraborty is prone to be the subsequent Chairperson of the nation’s largest non-public sector lender HDFC Financial institution, sources mentioned.
He would exchange Shyamala Gopinath, who is ready to finish her time period in January.
In response to the sources, the financial institution has really useful the identify of Chakraborty for appointment because the part-time Chairperson, topic to the Reserve Financial institution of India’s approval.
Chakraborty, a 1985 batch IAS officer of Gujarat cadre, retired as Secretary of Division of Financial Affairs in April 2020. Previous to that, he was Secretary of Division of Funding and Public Asset Administration (DIPAM). Each departments come below the finance ministry.
The tenure of Gopinath, a former RBI Deputy Governor, is ending on January 1, 2021. She was appointed because the Chairperson in January 2015.
The financial institution’s board, at its assembly held on Monday, determined to suggest the identify of Chakraborty and submitted its suggestion to the RBI for approval below Part 35B of the Banking Regulation Act, 1949, the sources mentioned.
As soon as he’s appointed because the Chairperson, HDFC Bank would be the second non-public sector lender to have a former bureaucrat within the Chairperson publish. ICICI Financial institution is chaired by former Petroleum Secretary and Further Secretary within the finance ministry G C Chaturvedi.