Bandhan Bank has received approval from its Board of Directors for increasing foreign investment limit to 49 percent in the lender. This will help the bank to bring down promoter shareholding to the desired level. The bank has faced Rs 1 crore fine from the RBI for not complying with shareholding norms under the licensing rule.
Bandhan Bank is an Indian banking and financial services company headquartered in Kolkata, West Bengal. Bandhan, which started as a micro-finance company in 2001, received banking licence by Reserve Bank of India in 2014.