India, March 19 -- The Reserve Bank of India (RBI) has acknowledged recent developments at HDFC Bank and approved a transition arrangement for the position of part-time chairman, as requested by the bank.
The central bank emphasised that HDFC Bank, classified as a Domestic Systemically Important Bank (D-SIB), remains financially sound with strong capitalisation, adequate liquidity, and a professionally managed board and leadership team. It added that there are no material concerns regarding the bank's governance or conduct based on its regular assessments.
The RBI also stated that it will continue to engage closely with the bank's board and management to ensure a smooth transition and maintain stability going forward.
Published by HT Dig...