Paresh Sukthankar Resigns As HDFC Bank Deputy MD

Paresh Sukthankar has resigned as Deputy Managing Director of HDFC Bank today, the bank said without citing any reasons. Sukthankar was a member of the founding team at thebank.

Many saw Sukthankar -- a quiet and steadfast doer -- as a natural successor to MD Aditya Puri.

“We hereby inform you that Paresh Sukthankar has tendered his resignation as Deputy Managing Director of the bank, to be effective 90 days from the close of business hours of today,” HDFC Bank said in a regulatory filing.

The bank said its board of directors places on record its appreciation for the contribution made by Sukthankar in his long association with the bank.

Chairman of HDFC Ltd Deepak Parekh has been quoted as saying that Sukthankar is not going to any competition, and that he has quit due to personal reasons.

Sukthankar is a management graduate from Jamnalal Bajaj Management Institute and Harvard Business School. He has also been appointed to various RBI Committees. Sukthankar worked at Citibank prior to joining the HDFC Bank.