RBI
HDFC Bank Chairman Atanu Chakraborty Resigns Citing Values and Ethics Conflict
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HDFC Bank's part-time chairman Atanu Chakraborty has resigned, citing internal practices that conflicted with his personal values and ethics. The Reserve Bank of India has approved Keki Mistry as interim chairman for three months. The departure follows Chakraborty's oversight of the major HDFC Bank-HDFC merger.
The Reserve Bank of India has introduced stricter norms on banks' net open positions in foreign currency dealings involving the rupee. Banks must now maintain positions within $100 million each day to curb speculative trading. The measure aims to stabilize the currency amid significant depreciation pressures.
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India's 10-year benchmark bond yield rose 7 basis points to 6.94% on Friday, signaling concerns over inflation and potential monetary tightening. High Brent crude prices above $100 per barrel, driven by the West Asia conflict, have intensified fears, compounded by the rupee falling below 94 to the dollar.
October 28, 2025, marks the fourth and final day of Chhath Puja, known as Usha Arghya. Banks in Ranchi and Patna will remain closed for the festival, while those in other regions will operate as usual. The ritual concludes the 36-hour fast with offerings to the rising sun.