Bandhan Bank on Thursday announced that it has received approval from the Reserve Bank of India (RBI) for the appointment of Partha Pratim Sengupta as Managing Director & Chief Executive Officer of the Bank. The Bank received the acceptance of position from Partha Pratim Sengupta on October 9 and he confirmed on October 10 that he would step down from his other engagements in compliance with the terms and conditions of the prior approval for the proposed appointment.
In a regulatory filing, Bandhan Bank said, “On the basis of recommendation of the Board of Directors of Bandhan Bank Limited (the Bank), the Reserve Bank of India (RBI), vide its letter dated October 08, 2024, has granted its prior approval for the appointment of Mr Partha Pratim Sengupta as Managing Director & Chief Executive Officer (MD&CEO) of the Bank, for a period of three years with effect from the date of taking charge, which shall not be later than November 10, 2024.”
It further added that the proposal for appointment of Sengupta will be placed before the Nomination and Remuneration Committee and the Board for consideration and approval, in due course.
Partha Pratim Sengupta has nearly four decades of experience in the banking industry and has worked in different geographies, across both retail and corporate banking. He began his career at State Bank of India (SBI) where he rose to the role of Deputy Managing Director and Chief Credit Officer of the Bank. He then took over as Managing Director & CEO of Indian Overseas Bank.
Partha Pratim Sengupta has graduated in Physics Honours and is also a Certified Associate of Indian Institute of Bankers. He has received training in Leadership Development from Harvard Business School, IIM Calcutta, and ISB Hyderabad.