Our systems and oversight mechanisms robust: Mistry

MUMBAI: HDFC Bank's interim chairman Keki Mistry said the bank's management reviews every issue and takes corrective action. His comments come in the wake of the sudden resignation of former chairman Atanu Chakraborty three days ago, citing misalignment between certain practices and his values and ethics.

Chakraborty's exit has been marked by investor anxiety, sharp market moves, and questions over governance, though tempered by regulatory reassurance.

Mistry told TOI, "At the bank, we hold ourselves to the highest standards of governance and accountability. Any issue that warrants looking into, is done so with rigour. Even an isolated incident requiring a review and corrective action is given due importance. I want to reiterate that our systems and oversight mechanisms are robust and we remain committed to upholding the trust placed in us by all our stakeholders."

Earlier, Mistry said the management would be speaking to all major shareholders and that "whatever fears are there in people's mind will get addressed." He said it was a matter of time before confidence returned and that people would understand, particularly given the RBI clarification that there was "nothing serious and wrong in any manner whatsoever in the bank."



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