RBI finds no governance issues after Atanu Chakraborty stepped down
After HDFC Bank's chairman Atanu Chakraborty stepped down, which was attributed to incongruence on ethics and values, the Reserve Bank of India (RBI) stepped in to calm any worries.
An RBI official, Sanjay Malhotra, shared that the RBI regularly checks HDFC Bank's records and has not found any governance or ethical problems, amid the sharp correction in the bank's share price.
RBI governors say no new regulations
Despite some recent fraud cases at other banks like IDFC and Kotak Mahindra, the RBI is not planning to shake up banking rules.
RBI Governor Sanjay Malhotra and Deputy Governor Swaminathan J said these incidents entity-specific developments and said India's banking system is strong enough to handle them without new regulations.
Their message: things are stable, so no need to stress.