Bsc magazine issue

page 13 of BSC has an rticle about RBI bars Bandhan Bank

Bsc magazine The Reserve Bank of India (RBI) barred Bandhan Bank from opening new branches without its approval and ordered the bank to freeze the salary of its chief executive Chandra Shekhar Ghosh over its failure to meet shareholding rules. Bsc magazine Since the bank was not able to bring down the shareholding of Non Operative Financial Holding Company (NOFI1C) to 40% as required under the licensing condition, bankers adda in hindi general permission to open new branches stands withdrawn and the bank can open branches only with prior approval of the RBI. Bandhan Financial HoldingS Ltd has to reduce its stake from bankers adda in hindi 82% to 40% within three years of commencing the business. The deadline for Bandhan Bank was on 23 Aug.