'MFIs need to lend responsibly. We don't do target-based lending', said Ghosh
Move follows relaxation given by RBI to expand network. Earlier, the regulator had imposed curbs on lender for not meeting promoter shareholding norms
The central bank had barred Bandhan Bank in September 2018 from expanding its network as the lender had failed to reduce promoter stake to 40 per cent
The bank has been allowed to open new branches, provided 25% of all new banking outlets opened in a financial year are in unbanked rural centres
Post inclusion, stocks under the F&O segment will now be 143, up from 140, with effect from February 28, when the March series begins
Among individual stocks, HDFC Life Insurance Company, Bandhan Bank, and Info Edge will be in focus today as they are set to be added in the Futures & Options segment effective February 28
The stock was trading lower for the third straight day, down 3% at Rs 411, its lowest level since February 5, 2019.
Even as asset quality seems stable, factors such as provision coverage ratio and loan book diversification need attention
Sequentially, net profit declined 24.79 per cent as it registered a profit of Rs 972 crore in Q2
The bank's performance, however, improved on a year-on-year basis due to low base effect. The net profit jumped 121 per cent YoY from Rs 331.26 crore logged in the same quarter last year (Q3FY19).
Becoming a bank has given us more strength, says Jana SFB MD & CEO Ajay Kanwal
Ghosh was commended for his deep knowledge of lending, having technology-focused lending operations and keeping the work force motivated
Chandra Shekhar Ghosh has turned a small microfinance NGO into a formidable private bank
The stock was trading at its lowest level since September 20, 2019.
The bank is expecting that a little less than 50% of its portfolio will be dominated by affordable housing loans in the next 3 to 5 years.
The jury said Ghosh, 59, deserved the award for the all-round performance of Bandhan Bank
The bank last week faced a Rs 1 crore fine from the RBI for not complying with shareholding norms under the licensing rules
9.89% stake of the total share capital of Bandhan Bank has been alloted to HDFC Ltd
The private lender was supposed to bring down the shareholding of its non-operative financial holding company
The penalty has been imposed in exercise of powers vested in the RBI under the provisions of the Banking Regulation Act, 1949