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RBI Imposes Restrictions on Bandhan Bank for Opening New Branches
October 17, 2018
Private Sector Bandhan Bank now suffers new setbacks as the Reserve Bank of India (RBI) has revoked its general permission to open new branches on its own. Now it will need permission from the central bank for opening new branches.
A news report said that RBI made the move because the bank was not able to lower the shareholding of Non-Operative Financial Holding Company (NOFHC) to 40% as is required by the licensing condition.
Bandhan Bank is the 8th largest bank in India by market capital today.
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