Current Affairs - Banking - Discussion

Reserve Bank of India (RBI) has allowed Bandhan Bank to open as many as 40 new branches, by the end of December, releasing the restriction that RBI has put on the Bandhan bank's branch opening spree three months back. The RBI had barred the bank from opening new branches in September after the private-sector lender failed to bring down main shareholder's stake to below 40 % as mandated in the licensing norms for universal banks. Bandhan Financial Services (BFSL) the promoter of Bandhan Bank, currently holds 82.28 % stake in the bank. The bank is planning either to float an open offer for sale or to acquire a non-bank lender which would in turn bring down the promoters' stake.