You are here: Home » Finance » News » Banks

No major risk involved in NBFC portfolio, says SBI's Sujit Kumar Varma

Will never sell my shares in YES Bank, says CEO and MD Rana Kapoor

Business Standard

RBI cracks whip on Bandhan Bank for violating shareholding norms

Bank needs RBI approval to open branches; MD's salary frozen

Bandhan Bank Ipo  |  Reserve Bank Of India  |  Bandhan Bank

Namrata Acharya  |  Kolkata 

The Reserve Bank of India (RBI) has withdrawn the “general” permission given to Bandhan Bank to open branches and has frozen the remuneration of its managing director (MD) and chief executive officer (CEO), Chandra Shekhar Ghosh (pictured), at the existing level, after it failed to comply with the norm of bringing down promoters’ shareholding to 40 per cent by the deadline of August 23.

However, the bank can open branches with the approval of the regulator. In a regulatory disclosure, Bandhan Bank informed the exchanges that “since the bank was not able to ...

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, September 29 2018. 02:09 IST