InvestorQ : What does it now mean for Bandhan Bank after RBI has lifted all restrictions on the bank?
vidhya Laxmi made post

What does it now mean for Bandhan Bank after RBI has lifted all restrictions on the bank?

Answer
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sarah Leo answered.
2 months ago


RBI clarified that it had lifted restrictions on remuneration of Bandhan Bank’s CEO, Chandra Shekhar Ghosh after the bank adhered to RBI norms on promoter stake which had required the bank to bring down the promoter stake in the bank to 40%.

Ghosh's remuneration had been frozen for this very reason since September 2018. The other restriction on opening of fresh branches had been lifted back in February itself. It may be recollected that Bandhan Holdings had sold 20.95% stake worth over Rs.10,550 crore.

It had offloaded over 33 crore shares in the secondary market to bring its excess shareholding to 40% of paid up voting capital. The issue had been aggressively lapped up by the global portfolio investors as well as by domestic mutual funds.