HDFC Ex-Chairman Says He Disagreed With Board Over Standards

HDFC Bank Ltd.’s former chairman has shared more details following his shock resignation earlier this month, pointing to ethical qualms over how the bank tackled recent regulatory issues in Dubai as among the reasons he left.

HDFC Bank was restricted from adding new clients in the emirate after the local regulator flagged lapses last September. That ultimately led to the departures of about a dozen executives, including its former compliance officer and chief internal auditor, said Atanu Chakraborty, the former chairman.