"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. This is the basis of my aforementioned decision. I confirm that there are no other material reasons for my resignation other than those stated above," Chakraborty said in his resignation letter to the bank. The bank stated that there are no reasons other than those mentioned in his letter.

Chakraborty served as secretary in the Department of Economic Affairs in the Ministry of Finance between 2019 and 2020, where he played a role in shaping economic policy and the Union Budget. Before that, he headed the Department of Investment and Public Asset Management (DIPAM), overseeing disinvestment and public asset management.