RBI bars Bandhan Bank from opening new branches
The Reserve Bank has restrained Bandhan Bank from opening new branches and also ordered freezing of remuneration of its CEO Chandra Shekhar Ghosh for not meeting the licensing conditions, the newly-launched bank said Friday.
The Bandhan, a MFI, was given conditional approval by the RBI for setting up universal bank in April 2014. The bank operational in 2015. Image Source: Reuters