The Reserve bank of India removes the restrictions placed on Bandhan Bank, allowing it to open new branches without prior permission. The RBI came up with some regulatory conditions & directed the bank to order about 25% of the total banking outlets to be opened in rural areas where banking facilities are not available.
Bandhan Bank was banned from opening a new branch on September 28, 2018, on behalf of the Supreme Court (SC) and the court ordered to freeze the salary of Chandra Shekhar Ghosh, the founder-cum managing director (MD) of the bank, after not fulfilling the shareholding rules. As per the RBI Licensing Guideline, Bandhan Financial Holdings Ltd, the bank promoter was to reduce the company’s share from 82 % to 40 % in 3 years. The deadline for the Bank was August 23, 2019, which it failed to meet.
Important takeaways for all competitive exams:
India and Nigeria have agreed to finalize the Local Currency Settlement System Agreement to enhance…
We're always looking for people who can bring new perspectives and life experiences to our…
In a significant recognition of Gujarat's rich cultural heritage, the traditional artisans of 'Kutch Ajrakh'…
Following the reduction in trade settlement time from T+2 to T+1 and T+0 for select…
In a thrilling final match at the Vivekananda Yuba Bharati Krirangan Stadium in Kolkata, Mumbai…
In response to the introduction of the T+1 settlement regime for stocks, the Reserve Bank…