Bandhan Bank: 5 Must Know Points

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Union Finance Minister Shri Arun Jaitley on August 23, 2015 inaugurated Bandhan Bank, the first commercial bank from Eastern India to get RBI clearance since independence.

Last year, the Reserve Bank of India (RBI) gave nod to start commercial banking operations.

Chandra Sekhar Ghosh, is the Managing Director and Founder of the Bank. Bandhan Bank aims to concentrate on financing the small and medium enterprises (SME).

Bandhan Bank: 5 Must Know Points

1) Bandhan Bank has started operations with 501 branches, 2022 service centres and 50 ATMs across 24 states. It plans to have 632 branches and 250 ATMs in 27 states by the end of fiscal year 2016.

2) Bandhan is starting operations with 1.43 crore accounts, around Rs 10,500 crore loan book and 19,500 employees.

3) The bank has over 71 per cent of the branches will be in rural India, including at least 35 per cent in unbanked rural pockets.

State-wise, West Bengal has the maximum number of branches 220, followed by Bihar 67, Assam 60, Maharashtra 21, Uttar Pradesh and Tripura 20 each, and Jharkhand 15.

4) Kolkata branch will be a headquarters of the bank and will have two divisions -- micro banking and general banking. It will offer complete retail financial solutions, including a variety of savings and loan products.

5) Union Finance Minister cautioned the new Bank to keep their focus to serve the weaker sections of the society unchanged, most of whom are among the 75 lakh customer of Bandhan Financial Services. 

With PTI Inputs

Read more about: banking, bandhan bank
Story first published: Monday, August 24, 2015, 9:54 [IST]
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