We are confident that public anger and disillusionment against the Dravidian parties will translate into a decisive electoral mandate for us, declares Tamilaga Vettri Kazhagam’s election campaign general secretary Aadhav Arjuna. In this interview with businessline, he argues that a leadership vacuum after J Jayalalithaa and M Karunanidhi, combined with voters’ grievances over governance, law and order, and rising costs, has created an opening for their charismatic leader, actor Vijay, to disrupt Tamil Nadu’s political order.

Published on April 16, 2026

Atanu Chakraborty
| Photo Credit:
Gerra Madhusudan 10751@Chennai

The resignation of Atanu Chakraborty as HDFC Bank’s Part Time Chairman on March 17th^{is a governance stress-test at a big bank, not a breakdown in financial stability, operational integrity, or board functioning, according to InGovern Research Services.}

The corporate governance advisory services firm observed that the aforementioned episode is more about a governance-oversight nuance driven by an individual’s personality rather than a material threat to shareholder value.

Chakraborty resigned citing “certain happenings and practices within the bank, that I have observed over last two years, are not in congruence with my personal Values and Ethics,” without specifics on operations or finances.

InGovern, in a note, said at banks of HDFC Bank’s size and complexity (advances ₹30,57,500 crore and deposits ₹31,05,500 crore as at March 31, 2026—up 10.2 per cent and 14.4 per cent YoY, respectively; strong CASA franchise, large overseas footprint), strategic or cultural-tone disagreements among board members are not unheard-of, and are often treated as part of the governance stress-test rather than a fatal flaw.

The firm observed that the bank’s steps after Chakraborty’s resignation have been practical and governance-focused, with an an experienced interim chairman being appointed with RBI approval and retention of a strong, stable top-level management team and undertaking an external legal review of the resignation to uphold standards.

There are no visible signs of disruption in disclosed financial metrics, it added.

Shriram Subramanian, Managing Director, InGovern Research Services Pvt Ltd, said: “The chairman’s resignation of 18th March 2026 led to a panic among shareholders as the resignation letter triggered governance conversations relating to the bank.

“The bank continues to report good financial results, and this seems to be a one-off aberration and a personality driven issue. The chairman’s resignation letter and statements, in the press later, failed to highlight any specific instances of alleged governance lapses at the bank”

He noted that the steps taken by the bank so far are consistent with how large institutions typically manage such transitions.

Shriram opined that “The bank should quickly put out the findings by the external lawyers with the review outcomes. The bank should also continue its practices by regular investor engagement and disclosures,”

Despite the resignation, HDFC Bank’s governance and financial metrics hold up well – investors have no reason for concern on financial strength or leadership, the InGovern note said.

It emphasised that the Reserve Bank of India (RBI) has reaffirmed HDFC Bank as a D-SIB (Domestic – Systemically Important Bank) with sound financials, a professional board, competent management, adequate capital + liquidity – no material concerns on governance.

InGovern said: “The bank’s deposit franchise remains resilient and lending franchise shows strong momentum. The bank can grow loans and earnings organically while keeping capital-quality intact.

“Profitability gains are less likely to be eroded by sudden credit-cost shocks, which preserves per-share value and dividend-safety.”

Shriram said the Bank’s capacity for earnings growth and payouts stays strong, with quality earnings, low-risk balance sheet, and clear dividend policy disclosures. Further, the Bank is leaning into transparency rather than defensiveness, signalling confidence in its governance processes.

Published on April 16, 2026

Published on April 16, 2026

Crude oil futures traded marginally up on Thursday morning even as markets pinned hopes on an extension of the US-Iran ceasefire, which is set to expire on April 21.

At 9.23 am on Thursday, June Brent oil futures were at $94.95, up by 0.02 per cent, and May crude oil futures on WTI (West Texas Intermediate) were at $91.65, up by 0.39 per cent. April crude oil futures were trading at ₹8558 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday against the previous close of ₹8608, down by 0.58 per cent, and May futures were trading at ₹8288 against the previous close of ₹8352, down by 0.77 per cent.

In their Commodities Feed for Thursday, Warren Patterson, Head of Commodities Strategy of ING Think, and Ewa Manthey, Commodities Strategist, said the oil market continues to edge lower amid hopes that the US and Iran extend their ceasefire by another two weeks, along with a potential resumption in talks to bring an end to the war.

However, the physical market is becoming tighter every day that passes without a restart of oil flows through the Strait of Hormuz.

“After taking into consideration pipeline diversions and the trickle of tankers through the Strait of Hormuz, we estimate that roughly 13 million barrels a day has been disrupted. But with the US blockade, this number could creep higher,” they said.

The divergence between the futures and physical markets is clear: dated Brent traded around $117 a barrel, while front-month Brent futures settled a little below $95 a barrel on Wednesday. The key upside risk for the market is that peace talks between the US and Iran break down. This isn’t an unrealistic scenario, given that US and Iranian demands remain fairly wide apart.

The latest data from the US Energy Information Administration (EIA) shows that US crude oil exports jumped by 1.08 million barrels a day week-on-week to 5.23 million barrels a day – the highest volume since September 2025.

They said that these stronger US exports reflect buyers turning to other markets for supply amid disruptions in West Asia. Despite strong exports, US crude oil inventories declined only marginally over the week, falling by 913,000 barrels. Refined product stocks saw more meaningful declines, with gasoline and distillate inventories falling by 6.33 million barrels and 3.12 million barrels, respectively.

Mentioning that the US drilling activity has barely moved since the start of the conflict, they said the US oil rig count stood at 411 last week, up from 407 prior to the war.

“The lack of drilling activity also ties in with the EIA’s domestic crude oil production forecasts, which suggest little change in output this year. If we see a pickup in US drilling activity, it would have a more meaningful impact on oil output over 2027,” they added.

Meanwhile, US President Donald Trump said that Israel and Lebanon will hold talks on Friday. In a post on the social media platform Truth Social, he said: “Trying to get a little breathing room between Israel and Lebanon. It has been a long time since the two leaders have spoken, like 34 years. It will happen tomorrow. Nice!”

Published on April 16, 2026