RBI Imposes Rs.1 Crore Penalty On Bandhan Bank
PrintListen to this Article
0:00
0:00
The Reserve Bank of India (RBI) on Tuesday imposed a penalty of Rs. 1 crore on Bandhan Bank for not bringing down the promoter shareholding to 40 per cent. Bandhan MFI had obtained in-principle universal banking license from the central bank in 2014 and started full-fledged operations as a bank from August 2015.
RBI imposed the penalty on account of failure to pare the shareholding of Bandhan Financial Holdings to 40 per cent of its paid-up voting capital, within three years from commencement of the business of the bank, the lender said in a BSE filing.
The bank had recently merged with Gruh Finance, which brought down the shareholding of the promoter from 82.26 per cent to 60.96 per cent. The lender had earlier said it was making efforts to further reduce the shareholding to 40 per cent. #casansaar (Source - RBI, NDTV)
RBI imposed the penalty on account of failure to pare the shareholding of Bandhan Financial Holdings to 40 per cent of its paid-up voting capital, within three years from commencement of the business of the bank, the lender said in a BSE filing.
The bank had recently merged with Gruh Finance, which brought down the shareholding of the promoter from 82.26 per cent to 60.96 per cent. The lender had earlier said it was making efforts to further reduce the shareholding to 40 per cent. #casansaar (Source - RBI, NDTV)
Category : Banking | Comments : 0 | Hits : 944
The Financial Intelligence Unit-India (FIU-IND), in furtherance of the powers conferred upon the Director FIU-IND under Section 13(2)(d) of the Prevention of Money Laundering Act (PMLA), 2002, has imp...
The government on Monday informed the Lok Sabha that all Scheduled Commercial Banks have written off nearly Rs 10.6 lakh crore in the last 5 years, out of which nearly 50 per cent belong to large indu...
The government has cleared the extension of tenure of managing directors of two public sector lenders -- Bank of Maharashtra (BoM) and Central Bank of India. According to sources, Appointments Co...
Comments