Bengal minister Sadhan Pande (left) and Bandhan Bank CEO CS Ghosh at the opening of a branch at Shaymbazar in Kolkata.
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Kolkata: A day after the Centre appointed Shaktikanta Das as the new governor of the Reserve Bank of India (RBI), Kolkata-headquartered Bandhan Bank today threw open five new branches.

Not only this, Bandhan Bank managing director and CEO, Chandra Shekhar Ghosh, informed that it has got clearance from RBI to open 40 new branches in the month of December alone.

This comes as a significant development as the RBI had in September put a restriction asking Bandhan Bank not to open new branches without its prior approval.

This is because Bandhan Bank had failed to reduce its promoters’ stake to 40 per cent as is the norm in RBI’s licensing agreement.

Since the embargo came in force, Bandhan Bank did not open a single branch despite having the option to approach the apex bank for prior approval.

The stalemate finally ended today with the bank opening five new branches today ~ one each in Kolkata, Birbhum and, East Midnapore districts, and two in Hooghly.

With this, the number of Bandhan Bank branches now stands increased to 943. Bengal consumer affairs minister Sadhan Pande inaugurated a branch at Shyambazar in north Kolkata this afternoon in the presence of Ghosh.

Commenting on the occasion, Ghosh said that the bank will open another 35 branches within December itself. The Bank has its presence across 34 of the 36 states and Union Territories in India.