Page 4 - Bandhan Bank

RBI clears appointment of whole-time director for 3 years by Bandhan Bank

The lender added that Babbar's three-year tenure will begin from the date of taking charge, which should be within three months from the date (January 17, 2023), of the said RBI approval

HDFC Bank offloads its entire 4.31 per cent stake in Bandhan Bank

Srinivasan Vaidyanathan, Chief Financial Officer of HDFC Bank, has confirmed the development in the post-earnings media call without divulging any details

Bandhan Bank clarifies the NCGTC audit is only on CGFMU loan claims

CGFMU is a government-established trust fund which ensures payment against default for micro loans that are extended to small borrowers

Loan claims under guarantee scheme face audit by govt agency: Bandhan Bank

The bank clarified in an exchange filing that the regulator has not initiated a broader audit

Sebi gets more time in Sharpline case, DSP MF launches multicap fund

In March last year, Sebi had barred 24 entities from the securities market for manipulating share prices of two companies through misleading videos on YouTube channels

Bandhan MF launches multi-asset fund with 50% equities allocation

Multi-asset allocation funds have been the 'flavour of the season' in the hybrid space in financial year 2024 as fund houses have rushed to launch the product post the change in debt fund taxation

Bandhan Bank advances in Q3 FY24 increase by 18.6% to Rs 1.6 trn

Total deposits grew 14.8% to Rs 1.17 trn, lender tells exchanges

Bandhan Bank receives Rs 280 crore bid for Rs 776 crore home loan NPAs

Bandhan decided to sell housing loan NPAs, where repayment was due for over 180 days, worth Rs 776.62 crore as on September 30.

Bandhan Bank to transfer housing finance NPAs to asset reconstruction co

The board of private lender Bandhan Bank has approved a proposal to transfer the housing finance NPAs to an asset reconstruction company. In a regulatory filing on Thursday, the bank said the housing finance NPAs will have days past due (DPD) of more than 180 days. The outstanding amount that will be transferred to the company is Rs 775.62 crore as on September 30, 2023. The lender had received a binding bid of Rs 280.39 crore for the NPA portfolio on outright cash consideration basis, it said. It will go for bidding as per the Swiss Challenge Method, and the decision of the sale will be taken based on extant guidelines governing the bidding process and the relevant policy of the bank, the filing said. Meanwhile, Bandhan Bank also said it has signed an MoU with the Assam government, securing the mandate to collect revenue on the accounting portal of the state called GRAS. Under the agreement, consumers can pay all kinds of utility taxes of the Assam government as well as examinat

Per capita income must go up to become 3rd largest economy: Bandhan Bank MD

Bandhan Bank managing director Chandra Shekhar Ghosh on Tuesday said there is a need to increase per capita income to make India third largest economy in the world. The per capita income of the fifth largest economy, as per the government data, stood at Rs 98,374 in 2022-23. India ranks 130th globally in terms of Human Development Index comprising per capital income, education and health parameters, Speaking at an event organised by CII here, Ghosh said, to make India third largest economy in the world or to achieve USD 5 trillion size, per capita income has to increase. "We need to focus on per capita income improvement so that people have higher income and therefore spending would increase. So that should be the main focus," he said. Ghosh said financial inclusion and access to institutional credit play an important role in improvement of per capital income. The government has taken many initiatives, including Pradhan Mantri Jan Dhan Yojana (PMJDY) and Pradhan Mantri Mudra Yoja

RBI authorises Bandhan Bank to disburse pension to retired railway workers

City-based private lender Bandhan Bank on Wednesday said it has been authorised by the Reserve Bank of India (RBI) to disburse pension to retired railways employees. In a statement, the bank said the lender will shortly integrate its system with the railways ministry to operationalise the pension disbursement process. The mandate will give the bank access to around 50,000 retirees each year across 17 zonal offices and eight production units of the railways across the country. Debraj Saha, head (government business), Bandhan Bank, said, "Indian Railways is one of the largest employers in the country. This will help pensioners to get access to competitive rates offered by the bank and other products of the lender.

Bandhan Bank approves re-appointment of Chandra Shekhar Ghosh as MD

Bandhan Bank on Friday approved the reappointment of Chandra Shekhar Ghosh as its Managing Director and Chief Executive Officer for three years. The re-appointment, if approved by the Reserve Bank, would be effective from July 10, 2024. The board approval for re-appointment is subject to the approval of the Reserve Bank of India (RBI) and the shareholders of the bank, the lender said in a regulatory filing. The current tenure of Ghosh as the MD and CEO will expire on July 9, 2024, and in terms of the regulatory provisions, the application for re-appointment would be submitted to the RBI at least six months before the expiry of the current term, it said. Accordingly, it said, an application will be made to the RBI seeking prior approval for re-appointment as the MD and CEO of the bank, within the timeline stipulated by the central bank.

Bajaj Auto, Wipro, Bandhan Bk: Trading strategies in stocks post Q2 results

Charts suggest that Bajaj Auto can potentially rally up to 7 per cent from present levels, while Bajaj Finance, Bandhan Bank and Wipro can tumble up to 21 per cent.

Stocks to Watch today: Bajaj Auto, Wipro, RIL, Dabur, IndusInd, Bandhan Bk

Stocks to watch on Thursday, October 19, 2023: FMCG majors ITC, Hindustan Unilever and Nestle also likely to be in focus ahead of Q2 results today.

Bandhan Bank Q2 results: Net profit rises to Rs 721cr on loan portfolio

Private lender Bandhan Bank on Wednesday reported a whopping 245 per cent jump in its net profit to Rs 721 crore in the second quarter of the 2023-24 fiscal as compared to Rs 209 crore in the year-ago period. The loan portfolio of the Kolkata-headquartered bank at the end of the July-September quarter stood at Rs 1.08 lakh crore, reflecting a 12.3 per cent rise over the corresponding period last year. Bandhan Bank MD & CEO Chandra Shekhar Ghosh said the total deposits of the lender at the end of the quarter stood at Rs 1.12 lakh crore, registering a growth of 12.8 per cent year-on-year.

Bandhan MF looks to go beyond smallcaps, plans first active microcap fund

Motilal Oswal MF was the first to launch a passive microcap fund. The index fund tracks the Nifty Microcap 250 Index

RBI authorises Bandhan Bank for disbursing civil pension on behalf of CPAO

Private sector lender Bandhan Bank on Tuesday said it has been appointed by Reserve Bank of India as an authorised pension disbursement bank on behalf of the Central Pension Accounting Office (CPAO) for the civil pensioners. The bank will soon be integrating with the office of CPAO, Ministry of Finance, to operationalise the disbursement process, it said in a release. The authorisation entitles the bank to disburse pensions to the central government employees in civil ministries/departments (other than railways, posts, and defence), National Capital Territory of Delhi, Union Territory Administrations without legislatures, retired judges of the high courts and the Supreme Court and All India Service Officers. This scheme also covers payment of pensions to former Members of Parliament and the payment of pension and other amenities to former Presidents/Vice Presidents of India, the private sector lender said.

Oil dependence a key challenge for India: HDFC Bank director Keki Mistry

Mistry said that the trajectory of oil prices always needs to be watched as India imports 85 per cent of its oil requirements and is the world's third-largest oil importer

Stocks to Watch: Reliance, Coforge, GAIL, Vascon, Sugar stocks, P&G Health

Stocks to Watch on August 24, 2023: Coforge promoter Hulst BV is looking to offload its entire 26.63% stake in the firm via a block deal; India may ban sugar exports for the first time in 7 years

Bandhan Bank disappoints Street in Q1; analysts 'positive' on the stock

Quite a few analysts are maintaining a 'buy' rating on the bank but they have downgraded earnings and RoA (return on assets) expectations and target prices