Bandhan Bank gets RBI relief on opening of branches, subject to conditions

The bank has been allowed to open new branches, provided 25% of all new banking outlets opened in a financial year are in unbanked rural centres

The Reserve Bank of India had lifted the “regulatory restriction” on opening of branches by Bandhan Bank, provided the bank ensured at least a quarter of all banking outlets opened by it during a financial year were in unbanked rural centres, Bandhan Bank informed stock exchanges on Tuesday.

The restriction had been imposed on the bank for failing to comply with the licensing condition on dilution of stake.

The bank said in a statement to BSE and the National Stock Exchange: “Further to our letter dated September 28, 2018, we would like to inform that the Reserve Bank of India