New Delhi, March 19: The Reserve Bank of India (RBI) on Thursday said that HDFC Bank is a Domestic Systemically Important Bank (D-SIB) with sound financials, professionally run board and competent management team, after the resignation of part-time chairman Atanu Chakraborty over alleged “ethical differences” in one of the biggest private lenders.

The Central Bank said in a statement that it has taken note of the recent developments in HDFC Bank.

“A transition arrangement as requested by the Bank has been approved by Reserve Bank as regards the position of Part Time Chairman of the Bank,” said the RBI.

It added that basis its periodical assessment, “there are no material concerns on record as regards its conduct or governance”.

“The bank remains well-capitalised and the financial position of the bank remains satisfactory with sufficient liquidity. Reserve Bank will continue to engage with the Board and management on the way forward,” said the Central Bank in a statement.

Chakraborty had resigned citing differences with the lender over “values and ethics”.

The RBI approved the appointment of long-time group insider Keki Mistry as an interim part-time chairman for three months, effective March 19, the bank said in its exchange filing.

Mistry sought to reassure investors and analysts that there are “no major issues” at the bank following the sudden resignation of Chakraborty, even as the bank shares came under pressure.

Speaking on a conference call, Mistry said he would not have accepted the interim role if it did not align with his values and principles. “I would not have taken this responsibility at the age of 71 if it is not aligning to my values and principles,” Mistry said.

There was no power struggle in the bank as you put it, he said, adding that “there was nothing substantive”.

He further stated that the fact that RBI are comfortable with what is going on in the bank is reflected in the fact that, “within a short period of time, they approved my appointment for three months”.

Mumbai, March 19: Indian equity markets opened sharply lower on Thursday, tracking weak global cues as escalating geopolitical tensions in the Middle East triggered a surge in crude oil prices.

Sensex plunged 1,953 points or 2.55 per cent to 74,750, while Nifty also witnessed heavy selling pressure, declining 580 points or about 2.4 per cent, before recovering a bit in early trade.

Among stocks, HDFC Bank, Shriram Finance, Larsen & Toubro (L&T), TMPV, Axis Bank, HDFC Life and IndiGo plunged up to 4 per cent in morning trade.

Across sectors, broad-based selling was witnessed, with financials and auto stocks leading the decline. The Nifty Private Bank index fell over 3 per cent, while Nifty Financial Services, Nifty Auto and Realty indices declined more than 2 per cent each.

The sharp fall comes amid a spike in crude oil prices, with Brent crude futures jumping nearly 5 per cent to $112.83 per barrel, close to its all-time high of $112.87. Meanwhile, WTI crude futures were trading at $100.02 per barrel.

“Technically, immediate support for Nifty is placed in the 23,250–23,150 range, while resistance is seen around 23,900–23,950. The RSI at 37.04 indicates early signs of recovery from oversold levels, but a sustained move above resistance is needed to confirm momentum,” said Hitesh Tailor, Research Analyst at Choice Broking.

The rise in oil prices followed heightened tensions after Iran launched a missile attack on Qatar’s Ras Laffan gas facility, one of the world’s largest LNG hubs.

The situation has escalated further after coordinated US-Israel airstrikes targeted Iran’s South Pars gas field and oil infrastructure in Asaluyeh, a key energy hub.

The sharp fall in early trading wiped out most of the gains recorded earlier this week, when both indices had risen around 3 per cent, with the Sensex gaining over 2,000 points and the Nifty about 600 points.

Meanwhile, Asian markets also experienced significant declines, with major indices such as the Nikkei, the Hang Seng, and the KOSPI each down by up to 3 per cent.

Bhuj, March 17: The Indian‑flagged liquefied petroleum gas (LPG) tanker ‘Nanda Devi’ arrived at Vadinar Port in Gujarat at about 11.25 a.m. on Tuesday, becoming the second LPG carrier to reach the west coast this week after ‘Shivalik’ docked at Mundra Port a day earlier, officials confirmed.

Both vessels were transporting critical LPG supplies to India following an unusually hazardous passage through the Strait of Hormuz, where maritime traffic has been disrupted by the ongoing conflict involving Iran, the US and Israel.

The strait, a strategic chokepoint for global energy shipments, has seen a sharp reduction in commercial vessel movements since late February amid heightened military actions and warnings from Iran.

Authorities at Kandla Port issued directives on Monday that all ships carrying LPG should be given priority berthing to expedite unloading of cargo and reduce delays amid concerns over domestic supply.

In a circular to vessel agents, the Deendayal Port Authority said the Ministry of Ports, Shipping and Waterways instructed ports to accord priority berthing for LPG-laden ships to help maintain uninterrupted distribution of cooking gas across the country.

The Shivalik, laden with around 46,000 tonnes of LPG from Qatar, completed its nine‑day voyage and berthed at Mundra on Monday evening after port authorities made advance arrangements, including documentation and priority docking, to begin discharge operations without delay.

Officials said both vessels are part of efforts to shore up LPG supplies for household and industrial use as India continues to rely on imports for a significant share of its energy needs.

Before the transit of the two tankers, dozens of Indian‑flagged ships and hundreds of seafarers remained anchored in the Persian Gulf as maritime insurers and shipping firms reassessed routes through the volatile region.

The Nanda Devi’s arrival at Kandla comes amid broader diplomatic and logistical efforts, including negotiations with regional authorities and coordination with naval assets, to safeguard merchant shipping.

Indian maritime authorities have maintained that all Indian seafarers operating in the Gulf area remain safe and that no untoward incidents involving Indian-flagged vessels have been reported in recent days.

While Nanda Devi has arrived, another ship, ‘Jag Laadki’, carrying nearly 81,000 tonnes of crude oil from the UAE, is en route to India.

As per government data, there were 22 Indian-flagged vessels located to the west of the Strait of Hormuz in the Persian Gulf region, carrying a total of 611 seafarers.