You are here: Home » Finance » News » Banks
Business Standard

Bandhan Bank gets Sebi exemption from 1-year lock-in on promoters' shares

The Reserve Bank of India had earlier barred the lender from opening new branches

Reuters 

Bandhan Bank
Bandhan Bank

Ltd said on Friday the country's securities regulator exempted it from a restriction on promoters selling shares for one year after listing.

The had earlier barred the lender from opening new branches and froze its chief executive officer's salary for failing to bring down its main shareholder's stake to below 40 percent.

Bandhan Bank's shares closed 0.5 percent lower on Friday.

First Published: Fri, October 12 2018. 16:47 IST
RECOMMENDED FOR YOU