Bandhan Bank opens 125 branches in 15 states

The central bank had barred Bandhan Bank from opening new branches in September 2018 for not being able to bring down the promoter holding to 40% in three years from the date of commencement of the ‘universal’ banking business.

Written by FE Bureau

March 12, 2020 03:00 IST

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The bank has its presence across 34 of the 36 states and union territories in India,” the Kolkata-based bank said in a release.

After the Reserve Bank of India (RBI) lifted the restriction on opening of new branches, Bandhan Bank has opened 125 banking outlets across 15 states. The central bank had barred Bandhan Bank from opening new branches in September 2018 for not being able to bring down the promoter holding to 40% in three years from the date of commencement of the ‘universal’ banking business.

“The bank already had a strong network of 1,010 bank branches, which now stands at 1,013. With a network of 3,206 banking units and the 195 home loan service centres that are operating in the country now, the total number of banking outlets now stands at 4,414. The bank has its presence across 34 of the 36 states and union territories in India,” the Kolkata-based bank said in a release.

Out of the 125 new banking outlets, 42 have been opened in Uttar Pradesh, 29 in Rajasthan, 12 in MP, 7 each in AP and Telangana, 6 in Bihar, 5 in Chhattisgarh, 4 in Odisha, 3 in Tamil Nadu, 2 each in Uttarakhand, Karnataka, Maharashtra, and Assam, and 1 each in Delhi and West Bengal.

This article was first uploaded on March twelve, twenty twenty, at zero minutes past three in the night.