The resignation of HDFC Bank's former chairman Atanu Chakraborty last week stemmed from a power struggle with chief executive Sashidhar Jagdishan, the Financial Times reported on Friday, citing sources.

Chakraborty had opposed extending Jagdishan's tenure, but a majority of the board favoured it, the report said.

Reuters could not immediately verify the report. (Reporting by Mrinmay Dey in Mexico City; Editing by Sumana Nandy)