Bandhan Bank has received approval for an equity investment of Rs 300 crore for acquiring upto 30 crore equity shares of Rs 2 each of YES Bank, for cash, at a premium of Rs 8 per equity share, under the proposed Scheme of Reconstruction of YES Bank, subject to regulatory and government approval, if any. The Board of Director of the bank at their meeting held on March 13, 2020 approved the same.
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.
