Bandhan Bank's holding co pares stake to 40% to comply with licensing norms

In terms of the guidelines of the licensing of new private lenders issued by RBI, BFHL was required to bring its excess shareholding to 40% of the paid-up voting capital of the bank

Bandhan Bank on Monday said its holding company Bandhan Financial Holdings Ltd (BFHL) has brought down its stake in the lender to 40 per cent to comply with the licensing guidelines.

In terms of the guidelines of the licensing of new banks in the private sector issued by RBI on February 22, 2013 and licensing conditions, BFHL (the non-operative financial holding company, or NOFHC) was required to bring its excess shareholding to 40 per cent of the paid-up voting capital of the bank, Bandhan Bank said in a regulatory filing.

Following the amalgamation of GRUH Finance Ltd with the bank