Bandhan Bank said that the Reserve Bank of India has appointed Arun Kumar Singh as an additional director on the board of the bank, for a period of one year from 24 June 2024 to 23 June 2025 or till further orders, whichever is earlier.
Arun Kumar Singh was the chief general manager (retired) at the Reserve Bank of India (RBI). With a work experience of almost 36 years at the RBI, he has worked in various capacities in the field of non-banking supervision & regulation, banking supervision & regulation, financial inclusion, monetary policy, information technology, enforcement actions against banks & non-banks, government banking, etc.
He has served as RBI nominee director on the boards of five banking and non-banking entities. He had also a three-year stint as regional director for the State of Rajasthan.
Arun Kumar Singh has done his graduation in economics and MBA in finance and HR. He is also a Certified Associate of the India Institute of Banking (CAIIB).
Bandhan Bank operates as a commercial bank. The Banks distribution network spans 6,300 outlets The Bank added 10 lakh customers, during the quarter and current customers stand at 3.36 crore customers. The Bank currently has nearly 76,000 employees
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The bank's net profit tumbled 93.24% to Rs 54.62 crore in Q4 FY24 as compared to Rs 808.29 crore recorded in Q4 FY23. However total income grew by 20.13% to Rs 5,883.46 crore in the fourth quarter of FY24 from Rs 4,897.39 crore posted in Q4 FY23.
The scrip fell 1.52% to currently trade at Rs 204.60 on the BSE.
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