RBI lifts restrictions on remuneration of Bandhan Bank MD

Bandhan Bank on Monday said the Reserve Bank of India has lifted restrictions on remuneration of the bank’s MD & CEO Chandra Shekhar Ghosh at the existing level. The curbs were withdrawn after the lender met RBI norms to reduce promoters’ stake to 40 per cent.

“This is pursuant to Bandhan Bank’s promoter entity Bandhan Financial Holdings Ltd (BFHL), a non-operating financial holding company, successfully bringing down its stake to 40 per cent in the Bank from an earlier level of around 61 per cent by selling shares in a block deal on August 3, 2020,” Bandhan Bank said in a statement.

All regulatory restrictions imposed by the RBI on the lender are now withdrawn, it said.