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

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 23^rd 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.