HDFC Bank on Wednesday informed that the Board of Directors has recommended the reappointment of Atanu Chakraborty as the part time non-executive chairman and independent director of the Bank to the Reserve Bank of India (RBI) for a second term of three years. “The Board of Directors of the Bank at its meeting held today, has recommended the re-appointment of Atanu Chakraborty as the Part Time Non-Executive Chairman and Independent Director of the Bank to the Reserve Bank of India (RBI), for a second term of three years w.e.f. May 05, 2024 to May 04, 2027,” it said in a regulatory filing.
Pursuant to the applicable provisions of the Banking Regulation Act, 1949 and the Companies Act, 2013, the re-appointment, HDFC Bank said, will be subject to the approval of the RBI and the shareholders of the Bank. Accordingly, the Bank will make an application to the RBI in this regard under Section 35B of the Banking Regulation Act, 1949.
In the Union Government, he held various posts such as Secretary to Government of India in the Ministry of Finance- Department of Economic Affairs (DEA) during FY 2019-20. “As Secretary (DEA), he coordinated economic policy making for all ministries/ departments and managed the entire process of formulation of budget making for the Union of India, including its passage in Parliament. He was responsible for fiscal management policies, policies for public debt management and development and management of financial markets. Atanu Chakraborty also handled financial stability and currency, domestic and foreign related issues as well,” it stated.
He managed flow of funds with multilateral and bilateral financial institutions and had multiple interfaces with them. He also headed a multi-disciplinary task force that produced the National Infrastructure Pipeline (NIP). He has also served as Secretary to the Union Government for Disinvestment (Department of Investment and Public Asset Management).
During the period 2002-07, Atanu Chakraborty served as Director and subsequently as Joint Secretary, Ministry of Finance (Department of Expenditure). Atanu Chakraborty has also discharged varied roles in the Gujarat State Government including heading the Finance Department as its Secretary. He had been responsible for piloting the private sector investment legislation in the state. Atanu Chakraborty has also served on the Board of World Bank as alternate Governor as well as on the Central Board of Directors of the Reserve Bank of India. He was also the Chairman of National Infrastructure Investment Fund (NIIF) as also on the Board of many listed companies.
Atanu Chakraborty graduated as a Bachelor in Engineering (Electronics & Communication) from NIT Kurukshetra. He holds a Diploma in Business Finance (ICFAI, Hyderabad) and a Master’s degree in Business Administration from the University of Hull, UK.