Bandhan Bank is a commercial bank focused on serving underbanked and underpenetrated markets in India. Bandhan Bank is the first instance in India of a microfinance entity transforming into a universal bank. The bank currently offers a variety of asset and liability products and services designed for micro banking and general banking. Its asset products consist of retail loans including a substantial portfolio of micro loans as well as micro small and medium enterprise ('SME') loans and small enterprise loans. In addition to the loan and deposit products the bank also offers other banking products and services to generate non-interest income and cater towards the additional needs of its customers. These products and services include debit cards Internet banking mobile banking EDC-POS terminals online bill payment services and the distribution of third-party general insurance products and mutual fund products. The bank's total banking outlets as on March 31 2019 stood at 4000. The network consists of 986 branches and 3014 Doorstep Service Centers (DSCs). Total number of ATMs stood at 481. Bandhan Bank has significant presence in under-penetrated East and North East India. Bandhan Konnagar was formed in 2001 as a non-governmental organisation ('NGO') providing microfinance services to socially and economically disadvantaged women in rural West Bengal. Bandhan Financial Services (BFSL) started its microfinance business in 2006 and the NGO transferred its microfinance business to BFSL in 2009 and thereby the entire microfinance business was undertaken by BFSL. By the time BFSL transferred its microfinance business to the bank it was India's largest microfinance company by number of customers and size of loan portfolio. Bandhan Bank Limited was incorporated as on December 23 2014 at Kolkata West Bengal as a public limited company. A licence authorising the Bank to carry on banking business was issued by the RBI in terms of Section 22 of the Banking Regulation Act on June 17 2015.The Bank began operations on August 23 2015 when Bandhan Financial Services Limited ('BFSL') its ultimate parent company transferred its entire micro finance business to the bank and the bank simultaneously commenced general banking activities. To complement the micro loan business since obtaining its banking license it has also focused particularly on creating a strong general banking business. To this end it launched the general banking business on August 23 2015 by opening a Greenfield network of 501 bank branches and 50 automated teller machines ('ATMs').In 2016 Bandhan Bank expanded its branch and doorstep service centers (DSC) network to 656 branches and 2022 DSCs. In 2017 the bank expanded its branch and DSC network to 840 branches and 2546 DSCs.Bandhan Bank launched an initial public offer (IPO) during the period from 15 March 2018 to 19 March 2018. The IPO was a combination of fresh issue of 9.76 crore shares and an Offer for Sale of 2.16 crore shares from selling shareholders. The IPO was priced at Rs 375 per share. The stock debuted at Rs 485 on BSE on 27 March 2018 a premium of 29.33% over the IPO price. On 28 September 2018 Bandhan Bank informed the stock exchanges that since the bank was not able to bring down the shareholding of Non Operative Financial Holding Company (NOFHC) to 40 percent as required under the licensing condition general permission to open new branches stands withdrawn and the bank can open branches with prior approval of RBI and the remuneration of the MD & CEO of the Bank stands frozen at the existing level till further notice. Bandhan Bank said in a statement that it is taking necessary steps to comply with the licensing condition to bring down the shareholding of NOFHC in the Bank to 40 percent and shall continue to engage with RBI in this behalf.On 12 October 2018 Bandhan Bank informed the stock exchanges that the bank has received an exemption from the Securities and Exchange Board of India with respect to (i) lock-in of one year on the equity shares held by the promoter; and (ii) eligibility condition of one year from listing; as required under regulations 36(b) and 82(b) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2009 respectively in order to comply with the requirements of RBI Licensing Guidelines for Private Sector Banks issued on February 22 2013.During FY 2018-19 the Reserve Bank of India vide its letter dated September 19 2018 has imposed two restrictions on the Bank one is withdrawal of general permission to open new branches whereby the Bank is not permitted to open new branches without the prior approval of the RBI and the other is freezing of remuneration of the MD & CEO at the existing level due to non-compliance of one licensing condition of dilution of excess shareholding of Non-operative Financial Holding Company ('NOFHC') in the Bank to 40% of the paid-up capital of the Bank within three years from the commencement of the operations of the Bank. The Bank has taken initiatives to comply with the only remaining licensing condition and in that regard amalgamation of GRUH Finance Limited into and with the Bank has been approved by the Board by which the existing shareholding of NOFHC in the Bank will be brought down to 61% (approx.). The Bank along with NOFHC has also initiated several other steps to comply with the only remaining licensing condition at the earliest. The Bank is constantly in touch with the RBI on the matter.During FY 2017-18 the Bank forayed into the gold loan business by commencing gold loan operations at 57 branches in eastern India. The number of these branches increased to 60 in the FY 2018-19. On March 31 2019 the Bank's outstanding gold loan book stood at Rs 128.28 crore from 22619 customers.During the year 2019 the Bank set up 50 new branches and 21 new ATMs.