Bandhan Bank Shares Gain Over 2% After RBI Lifts All Restrictions  

Earlier this month, the bank’s promoter Bandhan Financial Holdings sold shares worth USD 1.4 billion or over Rs 10,500 crore at a discount to reduce its stake by over 20 per cent to 40 per cent, the level acceptable for the regulator. In September 2018, the RBI had imposed the restrictions, and did away with the condition of seeking approval for opening banking outlets in February this year.

The RBI, vide its communication dated August 17, 2020 has lifted the other regulatory restriction (on) ‘the remuneration of the MD and CEO of the bank stands frozen, at the existing level’, the bank said. Consequent to the above, all the regulatory restrictions imposed by the RBI vide letter dated September 19, 2018, on the Bank are now withdrawn, it added.