diff --git a/charts/ndb-operator/Chart.yaml b/charts/ndb-operator/Chart.yaml
index 1ae183a..16ed132 100644
--- a/charts/ndb-operator/Chart.yaml
+++ b/charts/ndb-operator/Chart.yaml
@@ -2,8 +2,8 @@ apiVersion: v2
 name: ndb-operator
 description: A Helm chart for Nutanix Database Kubernetes Operator
 type: application
-version: 0.0.3
-appVersion: "v0.0.3"
+version: 0.0.4
+appVersion: "v0.0.4"
 maintainers:
   - name: balakumarbalu
     email: balakumar.balu@nutanix.com
@@ -19,7 +19,7 @@ annotations:
     - kind: security
       description: "Updated kube-proxy version"
     - kind: security
-      description: "Updated multiple golang dependecy version"
+      description: "Updated controller image version"
   artifacthub.io/containsSecurityUpdates: "true"
   artifacthub.io/license: Apache-2.0
   artifacthub.io/maintainers: |
diff --git a/charts/ndb-operator/README.md b/charts/ndb-operator/README.md
index e0e2612..abe0b08 100644
--- a/charts/ndb-operator/README.md
+++ b/charts/ndb-operator/README.md
@@ -104,7 +104,7 @@ The following table lists the configurable parameters of the NDB operator chart
 | `replicaCount`        | Number of replicas of the NDB Operator controller pods        | `1`                                                    |
 | `image.repository`    | Image for NDB Operator controller                             | `ghcr.io/nutanix-cloud-native/ndb-operator/controller` |
 | `image.pullPolicy`    | Image pullPolicy                                              | `IfNotPresent`                                         |
-| `image.tag`           | Image tag                                                     | `v0.0.3, defaults to Chart.appVersion if removed`      |
+| `image.tag`           | Image tag                                                     | `v0.0.4, defaults to Chart.appVersion if removed`      |
 | `imagePullSecrets`    | ImagePullSecrets list                                         | `[]`                                                   |
 | `nameOverride`        | To override the name of the operator chart                    | `""`                                                   |
 | `fullnameOverride`    | To override the full name of the operator chart               | `""`                                                   |
diff --git a/charts/ndb-operator/templates/apps_v1_deployment_controller-manager.yaml b/charts/ndb-operator/templates/apps_v1_deployment_controller-manager.yaml
index 9934aa0..377aa0a 100644
--- a/charts/ndb-operator/templates/apps_v1_deployment_controller-manager.yaml
+++ b/charts/ndb-operator/templates/apps_v1_deployment_controller-manager.yaml
@@ -30,7 +30,7 @@ spec:
         - name: kube-rbac-proxy
           securityContext:
             allowPrivilegeEscalation: false
-          image: gcr.io/kubebuilder/kube-rbac-proxy:v0.13.0
+          image: gcr.io/kubebuilder/kube-rbac-proxy:v0.14.1
           args:
           - --secure-listen-address=0.0.0.0:8443
           - --upstream=http://127.0.0.1:8080/
diff --git a/charts/ndb-operator/values.yaml b/charts/ndb-operator/values.yaml
index 8f4eda1..5585718 100644
--- a/charts/ndb-operator/values.yaml
+++ b/charts/ndb-operator/values.yaml
@@ -4,7 +4,7 @@ image:
   repository: ghcr.io/nutanix-cloud-native/ndb-operator/controller
   pullPolicy: IfNotPresent
   # Overrides the image tag whose default is the chart appVersion.
-  tag: "v0.0.3"
+  tag: "v0.0.4"
 
 imagePullSecrets: []
 nameOverride: ""