Mr. Chitale has obtained a graduate degree in commerce from the University of Mumbai. Mr. Chitale is a qualified Chartered Accountant. He has over 40 years of experience as a Chartered Accountant in practice.
He has been a fellow member of the ICAI and has served as the President of ICAI in the year 1997-98. Mr. Chitale was also associated as a member of governing council of Banking Codes and Standards Board of India. Mr. Chitale was also the Chairman of the Ethics Committee of the Stock Exchange, Mumbai. He was a member of Advisory Board on Bank, Commercial and Financial Frauds.
He was also a member of the group for Amalgamation of Urban Co-operative Banks. He was a member of the Working Group on Restructuring of Weak Public Sector Banks appointed by RBI (Verma Committee) and the Committee on Procedures and Performance Audit of Public Services appointed by RBI (Dr. Tarapore Committee) as well. Mr. Chitale was appointed as the Chairman of National Advisory Committee on Accounting Standards.