HDFC Bank exit fallout puts spotlight on independent directors’ role

HDFC Bank's independent director Atanu Chakraborty's resignation sparks debate on the role of independent directors. Their appointment process, compensation, and the pressure to conform to management decisions are under scrutiny. Lengthy board notes and potential for factionalism also pose challenges. Regulators and lawmakers are urged to review qualifications, liability, and appointment modes for independent directors to ensure better corporate governance.