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BANDHAN BANK LIMITED

Jan 20, 2020 351

HISTORY:

The Bandhan Group received conditional approval from the Reserve Bank of India (RBI) for the creation of a universal bank in April 2014 - one of two out of 25 applicants including some of the large Indian business.The banking regulator gave his final assent in June 2015.Shri Arun Jaitley, Minister of Finance, Corporate Affairs and Information and Broadcasting, Government of India, opened the bank on August 23, 2015 in Kolkata, the first bank to settle in the eastern part of India after Independence. The major function was the participation of regulators, policy makers and luminaries from the financial sector and corporate India.Bank Bandhan is driven by a constant desire to serve better. Bandhan Bank started with 501 branches, 50 ATMs and 2,022 door-to-door service centers (DSC) on the first day. Currently, Bandhan Bank has 3,457 points of contact in India, consisting of 768 bank branches, 2,416 Door Service Centers (DSC) and 273 ATMs, serving more than 9.8 million customers.

The bank has mobilized deposits over Rs. 19,000 crore and his outstanding loan book is close to Rs. 18,000 crore. Bandhan Bank has a team of nearly 23,000 employees on roll.The Calcutta-based bank has two divisions: general banking and microbank, which offers a number of retail financial solutions, including a variety of savings and loan products. Currently, the interest rate on the savings account is 6% for the balance above Rs.1 lakh and 4.25% for the balance up to Rs.1 lakh. For term deposits, the maximum interest rate offered is 8% for one year, with an additional 0.5% for retireesBandhan Bank seeks to offer its world-class banking products and services to urban, semi-urban and rural clients alike. It is a bank for all but the approach remains unchanged to meet the financial needs of people who are overlooked by the formal banking system and create better opportunities for education, health care and self-employment. In keeping with the philosophy of 'Aapka Bhala, Sabki Bhalai' and maintaining financial inclusion in the heart of it, Bandhan is committed to providing a large number of products and services, competitively on par with major private and state India.Recently, Shri Pranab Mukherjee, Honorable President of India, honored the first anniversary of Bandhan Bank in Calcutta.The success of the organization is measured by the millions of lives it has touched and the communities that have flourished with their untiring efforts. Bottom line, when you choose to bank with Bandhan, you are choosing to be instrumental in the nation's largest growth story.

CHAIRMAN &  MD: Mr. Chandra Shekhar Ghosh