- Kolkata based Bandhan Bank has received the RBI’s permission to open as many as 40 branches by the end of December.
- The bank would add another 40 branches by December 31, taking the total number of branches to 978.
- The central bank’s approval comes nearly three months after it had imposed restrictions on the bank’s branch expansion plans in September 2018.
- The Reserve Bank of India had earlier imposed restrictions on Bandhan Bank’s branch expansion, after it failed to pare promoters’ stake to 40 percent from close to 82 percent, within the stipulated three-year time frame.
- The promoter holding in the bank currently stands at 82.28 per cent.
