Page 5 - Bandhan Bank

DSP Mutual Fund launches US bond fund with flexibility on duration

Scheme to actively manage duration through seven US bond ETFs

RBI clears appointment of S Ravindran as part-time chairman of TMB

The approval is subject to Ravindran, stepping down from his directorships in Shriram Finance and Bandhan AMC, prior to assuming charge

Bandhan Bank's micro challenges: Unsecured loan book, CEO's tenure

Microloans are unsecured. Conscious of this, the Kolkata-based Bandhan acquired affordable housing finance company Gruh Finance in 2019 from what was then HDFC Ltd

Stocks to Watch today: Voda Idea, SpiceJet, Jana SFB, Angel One, Bandhan Bk

Stocks to watch on Thursday, February 22, 2024: Voda Idea, Texmaco Rail to consider fund raise proposals on February 27; Gujarat Ambuja Exports fixed record date for bonus issue.

Bandhan Bank appoints Rajeev Mantri as CFO effective from February 22

Ghosh took charge as the Interim CFO from October 20, 2023, after Sunil Samdhani resigned from the post of CFO effective September 30, 2023, to explore opportunities outside the bank

Bandhan Bank authorised to collect revenues on behalf of West Bengal govt

Private lender Bandhan Bank on Saturday said that it has been authorised by the West Bengal government to collect tax and non-tax receipts on its behalf. The mandate will enable the bank to collect revenues through the Government Receipt Portal System (GRIPS). By virtue of this mandate, people will be able to pay various taxes like property tax, motor vehicle tax and professional tax using this portal, the lender said. The bank will soon be integrating itself with the West Bengal government to operationalise the payment collection process. Debraj Saha, head-government business, Bandhan Bank said West Bengal is among the top three markets for Bandhan Bank. The bank has over 1,700 transaction outlets in the state, he said. GRIPS is an online internet-based platform for making various tax and non-tax payments to the West Bengal government.

Audit of Rs 22.7K cr microloans due to large claim amount: Bandhan CEO

The maximum eligible amount a bank can claim under the CGFMU insurance is 15 per cent of the total insured amount

Bandhan Bank Q3 results: Net profit jumps over two-fold to Rs 733 crore

The bank's total income increased to Rs 5,210 crore in the latest December quarter from Rs 4,840.94 crore a year-ago, the bank said in a regulatory filing

RBI allows HDFC Bank group to buy up to 9.5% stake in ICICI Bank, 5 others

The group will also acquire stakes in Axis Bank, YES Bank Suryoday Small Finance Bank, IndusInd Bank, and Bandhan Bank

HDFC Bank Group gets RBI approval to acquire 9.5% stake each in six banks

RBI's approval is valid for one year from the date of RBI's letter, i.e., till February 4, 2025

RBI clears appointment of whole-time director for 3 years by Bandhan Bank

The lender added that Babbar's three-year tenure will begin from the date of taking charge, which should be within three months from the date (January 17, 2023), of the said RBI approval

HDFC Bank offloads its entire 4.31 per cent stake in Bandhan Bank

Srinivasan Vaidyanathan, Chief Financial Officer of HDFC Bank, has confirmed the development in the post-earnings media call without divulging any details

Bandhan Bank clarifies the NCGTC audit is only on CGFMU loan claims

CGFMU is a government-established trust fund which ensures payment against default for micro loans that are extended to small borrowers

Loan claims under guarantee scheme face audit by govt agency: Bandhan Bank

The bank clarified in an exchange filing that the regulator has not initiated a broader audit

Sebi gets more time in Sharpline case, DSP MF launches multicap fund

In March last year, Sebi had barred 24 entities from the securities market for manipulating share prices of two companies through misleading videos on YouTube channels

Bandhan MF launches multi-asset fund with 50% equities allocation

Multi-asset allocation funds have been the 'flavour of the season' in the hybrid space in financial year 2024 as fund houses have rushed to launch the product post the change in debt fund taxation

Bandhan Bank advances in Q3 FY24 increase by 18.6% to Rs 1.6 trn

Total deposits grew 14.8% to Rs 1.17 trn, lender tells exchanges

Bandhan Bank receives Rs 280 crore bid for Rs 776 crore home loan NPAs

Bandhan decided to sell housing loan NPAs, where repayment was due for over 180 days, worth Rs 776.62 crore as on September 30.

Bandhan Bank to transfer housing finance NPAs to asset reconstruction co

The board of private lender Bandhan Bank has approved a proposal to transfer the housing finance NPAs to an asset reconstruction company. In a regulatory filing on Thursday, the bank said the housing finance NPAs will have days past due (DPD) of more than 180 days. The outstanding amount that will be transferred to the company is Rs 775.62 crore as on September 30, 2023. The lender had received a binding bid of Rs 280.39 crore for the NPA portfolio on outright cash consideration basis, it said. It will go for bidding as per the Swiss Challenge Method, and the decision of the sale will be taken based on extant guidelines governing the bidding process and the relevant policy of the bank, the filing said. Meanwhile, Bandhan Bank also said it has signed an MoU with the Assam government, securing the mandate to collect revenue on the accounting portal of the state called GRAS. Under the agreement, consumers can pay all kinds of utility taxes of the Assam government as well as examinat

Per capita income must go up to become 3rd largest economy: Bandhan Bank MD

Bandhan Bank managing director Chandra Shekhar Ghosh on Tuesday said there is a need to increase per capita income to make India third largest economy in the world. The per capita income of the fifth largest economy, as per the government data, stood at Rs 98,374 in 2022-23. India ranks 130th globally in terms of Human Development Index comprising per capital income, education and health parameters, Speaking at an event organised by CII here, Ghosh said, to make India third largest economy in the world or to achieve USD 5 trillion size, per capita income has to increase. "We need to focus on per capita income improvement so that people have higher income and therefore spending would increase. So that should be the main focus," he said. Ghosh said financial inclusion and access to institutional credit play an important role in improvement of per capital income. The government has taken many initiatives, including Pradhan Mantri Jan Dhan Yojana (PMJDY) and Pradhan Mantri Mudra Yoja