Govt accepts NHB chief resignation

The government has accepted the resignation of National Housing Bank Managing Director Sriram Kalyanaraman, even as an investigation has been ordered into alleged irregularities and misconduct committed by him as a regulator, official sources said.

"This is a part of the wider exercise to clean India's public financial sector. There were reports of mismanagement and unethical practices. An inquiry is on," a senior government official said.

The Central Vigilance Commission (CVC) few months back ordered inquiry to probe alleged misconduct committed by Kalyanaraman and subsequently sought his reply, the official said.

The NHB chief, however, tendered resignation along with clarification, the official said, adding since inquiry was initiated when he was NHB MD so his resignation will not impact the departmental inquiry.