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Reserve Bank of India clamps down on Bandhan Bank
4 views | Sep 29, 2018, 10:17:46 AM | Mirror Now
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The Reserve Bank of India has barred Bandhan Bank from opening any new branches freely and has frozen the compensation to CEO and founder Chandra Shekhar Ghosh at the existing levels as penalty for not reducing promoter stake to 40% by August this year. The Kolkata-based bank explained to exchanges in a notice on Friday that the RBI had withdrawn the general permission available to open branches but could still open branches only with prior permission of the regulator.
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