HDFC銀行、インド最大の民間貸し手Rs43.6tn ($460bn)資産、CEOSashidhar Jagdishanが8月に予期せず退任、就任6ヶ月満たないうちに。ChairAtanu Chakrabortyが「倫理的差異」を理由に退任。ガバナンス問題が露見、インド国立銀行に次ぐ2位、Nifty 50の約10%を占有。Jagdishan, who led the bank since 2020 and oversaw its merger with parent HDFC Limited, frequently clashed with Chakraborty. In May, the *Indian Express* reported HDFC allegedly disguised Rs450mn ($4.8mn) in interest payments as marketing spend between 2017-2021 to bypass preferential rate rules. A board probe concluded Jagdishan and two colleagues engaged in 'business over-reach' but found no personal enrichment, fining each Rs100,000 ($1,060).

Analysts at Motilal Oswal warn HDFC is entering a leadership transition amid slowing growth, falling profitability, and significant shareholder wealth erosion. US investors have filed a class-action lawsuit in New York over share price drops following Chakraborty's resignation. The Reserve Bank of India's approval for Jagdishan's reappointment was already uncertain.