Home / Markets / News / Bandhan Bank gains over 2% as RBI lifts restrictions on CEO's remuneration

Bandhan Bank gains over 2% as RBI lifts restrictions on CEO's remuneration

The restrictions were imposed by the RBI in September 2018 as the bank's promoters failed to comply with licensing requirements of reducing their stake in the bank

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During June quarter of FY21, the private bank reported 32 per cent fall in the net profit at Rs 550 crore as against Rs 804 crore in the previous-year period

SI Reporter New Delhi

4 min read Last Updated : Aug 18 2020 | 10:10 AM IST

Bandhan Bank shares gained 2.4 per cent to quote at Rs 294.4 per share on the BSE on Tuesday after the Reserve Bank of India lifted the restrictions imposed on the remuneration of private lender Bandhan Bank’s managing director and chief executive officer (MD&CEO) – Chandra Shekhar Ghosh, after the bank's promoter, Bandhan Financial Holdings, reduced its stake in the bank to 40 per cent by offloading 21 per cent stake earlier this month, to meet the regulator’s ownership norms.

At 9:34 am, the stock was trading 1.8 per cent higher at Rs 292.6 apiece on the BSE as against

Topics : Buzzing stocks Bandhan Bank Markets Reserve Bank of India

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