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After RBI notice, Bandhan Bank lists options to cut promoters' shareholding

On Friday, RBI withdrew the "general" permission given to Bandhan Bank to open branches and froze the remuneration of its MD and CEO for not reducing its promoter's stake

Bandhan Bank
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Bandhan Bank

Namrata Acharya Kolkata
A day after the Reserve Bank of India (RBI) put curbs on Bandhan Bank for not complying with shareholding norms, the lender laid out several options, including inorganic growth, to reduce the promoters’ stake, in a conference call with analysts on Saturday. 

The bank would consider buyouts in the micro, small and medium enterprises (MSME), housing finance, and microfinance institution (MFI) space, said Chief Financial Officer Sunil Samdani. The bank, he said, would also look at entering the mutual fund and insurance business at the holding company level to reduce the promoters’ shareholding. 

However, according to the Securities and Exchange Board of

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First Published: Sep 30 2018 | 5:30 AM IST

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