Mumbai, Apr 23 (IANS): The Reserve Bank of India (RBI) has approved the appointment of Atanu Chakraborty as part-time Chairman of HDFC Bank.

The appointment comes into effect on May 5, 2021, for a period of three years.

"The Reserve Bank of India (RBI), vide its communication dated April 22, 2021, has approved the appointment of Atanu Chakraborty as the Part Time Chairman of the Bank under Section 10B (1A)(i) of the Banking Regulation Act, 1949 for a period of 3 (three) years w.e.f. May 5, 2021, or the date of his taking charge, whichever is later," the bank said in a filing.

A meeting of the Board of Directors of the Bank will be convened in due course to consider the appointment of Chakraborty as the Part Time Chairman and Additional Independent Director of the Bank, it said.

Chakraborty served the government, for a period of 35 years, as a member of Indian Administrative Service, Gujarat cadre. He has mainly worked in areas of finance & economic policy, infrastructure, petroleum & natural gas. In the Centre, he had been Economic Affairs Secretary in 2019-20.