Bandhan has become the first lender to receive a final banking licence from the Reserve Bank of India in more than a decade.Chandra Shekhar Ghosh, the promoter of the lender with the most frugal set-up, has said that the bank would shun corporate loans given the current economic environment.
Announcing the new bank's launch in Kolkata on August 23, the bank's promoter Ghosh said that Bandhan recently completed raising Rs.1,020-crore equity from IFC, Singapore's sovereign wealth fund GIC, and the state-run Small Industries Development Bank of India.
Announcing the new bank's launch in Kolkata on August 23, the bank's promoter Ghosh said that Bandhan recently completed raising Rs.1,020-crore equity from IFC, Singapore's sovereign wealth fund GIC, and the state-run Small Industries Development Bank of India.
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