Bandhan, the micro finance company is going to start operation as a commercial bank [ Current News (Concise) ]

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About Bandhan: Bandhan Bank is banking and financial services company in India. It’s headquarter is in Kolkata, West Bengal. It was founded by Chandra Sekhar Ghosh who is act as a managing director.

  • Ashok Lahiri is chairman of the new bank.
  • It is world’s largest Non - Deposit - accepting Microfinance Institution (MFI).
  • Bandhan Micro - Finance helps by provide money to low income business women, Self Help Groups and small - scale businesses.
  • Earlier, it was started as a micro - finance company in 2001 with IDFC.
  • It has received Banking licenses by Reserve Bank of India in 2014.
  • Union Finance Minister Arun Jaitley officially granted as the bank in a program held in Kolkata On 23rd August 2015.
  • In the beginning, it has opened its 501 branches across India.
  • As of now, it has 2022 branches in India which are spread across 22 states with focus in the Eastern and North - Eastern Regions of India.

About Bandhan as commercial bank:

  • Bandhan Bank has become the first micro - finance company in India by starting its operation as commercial bank.
  • Its aim is to helping in country’s banking sector to spread the awareness of banking to unbanked population.

- Published/Last Modified on: August 24, 2015