Rbi Bans Bandhan Banking Venture From Opening Novel Branches, Freezes Ceo’s Salary

The Reserve Bank of Republic of Republic of India (RBI) has withdrawn the full general permission given to Bandhan Bank to opened upward novel branches. The primal banking corporation besides ordered to freez the salary of Bandhan Bank’s Managing Director too Chief Executive Officer (MD & CEO) Chandrashekhar Ghosh for non complying amongst the promoter shareholding norms.
RBI’s licensing norms demand a soul sector banking corporation to convey downwardly its promoter shareholding to xl percentage inside 3 years of operations.

About Bandhan Bank

Headquartered inwards Kolkata, Bandhan, which started equally a micro-finance companionship inwards 2001, received banking licence past times Reserve Bank of Republic of Republic of India inwards 2014. Bandhan Bank is one of the youngest soul sector banks inwards India, completing 3 years on August 23.
Bandhan went for an initial world offering (IPO) inwards March this year, which resulted inwards the promoter asset falling to 82.28 percentage from 89.62 percent.
Recently, the banking corporation failed inwards final talks to start out PNB Housing Finance, which could select helped inwards bringing downwardly the promoter holding. As of now, Bandhan Bank has 937 branches across the country.  Now Bandhan banking corporation tin sack opened upward novel branches alone amongst the prior blessing of RBI.
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