diff --git a/charts/psmdb-db/Chart.yaml b/charts/psmdb-db/Chart.yaml
index 6be4bce7..405bdc5d 100644
--- a/charts/psmdb-db/Chart.yaml
+++ b/charts/psmdb-db/Chart.yaml
@@ -3,7 +3,7 @@ appVersion: "1.16.1"
 description: A Helm chart for installing Percona Server MongoDB Cluster Databases using the PSMDB Operator.
 name: psmdb-db
 home: https://www.percona.com/doc/kubernetes-operator-for-psmongodb/index.html
-version: 1.16.2
+version: 1.16.3
 maintainers:
   - name: tplavcic
     email: tomislav.plavcic@percona.com