It is because dealing with a regulatory system that is largely headed by retired IAS officers then becomes relatively easy, points out A K Bhattacharya.
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Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Private sector lender Bandhan Bank on Friday said its founder, managing director and CEO Chandra Shekhar Ghosh has tendered his resignation. Ghosh would retire from the services of the bank as MD and CEO upon completion of his current tenure on July 9, 2024, the bank said in a regulatory filing. "After leading the bank for almost a decade, including three consecutive tenures as MD & CEO, I feel that the time has now come for me to assume a larger strategic role at Bandhan group level," Ghosh said in a letter addressed to the board.
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Bandhan Bank's managing director (MD) and chief executive officer (CEO) Chandra Shekhar Ghosh (pictured), who has decided to step down, on Wednesday said the bank will need at least three months to identify his successor. He has also written to his employees, asking them "not to worry" over his surprise decision. "Whatever, our experience in the earlier selections, when we selected two executive directors on the basis of that experience we need a minimum three months of time for selection of candidates and then it will go to RBI and then whatever is the time taken by RBI for approval," Ghosh said.
Make sure the rider adds value rather than just adding to cost.
Largecap equities are less volatile than mid- and smallcap stocks, making them suitable for risk-averse investors.
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
Share prices of Nestle India, Asian Paints, Bandhan Bank, Tata Technologies, AU Small Finance Bank and Avenue Supermarts, all a part of the BSE 500 index, have hit their respective 52-week lows on the BSE in Thursday's intra-day trade after a sharp correction in the equity markets.
'The upcoming long weekend has ignited strong travel intent, with robust bookings across leisure, spiritual and wellness destinations.'
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
The theme for this year is "Yoga for One Earth, One Health" echoes India's vision of global wellness.
The company is set to be India's first microlender to become a bank
Bandhan Financial Services, the first microfinance institution in the country to win a bank licence, is also one of the youngest entities to be allowed to enter the banking space.
The two entities' combined distribution network would comprise 4,182 banking outlets and 476 ATMs across 34 states and Union territories of India, with more than 31,000 employees serving about 15 million customers across the country.
There are perks for banking with the newest bank in India.
Total market funds are ideal for long-term investors who prefer a simple, hands-off approach, making them suitable for those unwilling to manage multiple funds.
Other reputed firms like McKinsey, Boston Consultancy Group, PwC, Ernst & Young and KPMG had also applied for getting the mandate from Bandhan.
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
For India's leading MFI-turned bank, the challenge is to stay competitive while pricing its loans
The bank will have around 501 branches.
According to a 2011 impact assessment study of the programme by Banerjee and Duflo, along with economists Raghabendra Chattopadhyay and Jeremy Shapiro, Bandhan's THP results in a 15 per cent increase in household consumption and had a positive impact on wealth and welfare, such as assets and emotional well being.
Analysts on Wednesday welcomed the Reserve Bank's decision to grant bank licences to Bandhan and IDFC, but expressed dismay that only two of the over two dozen aspirants made the cut.
Race for Asia's No. 1 MFI spot: Bandhan now closes in on Grameen Bank
All the existing microfinance businesses of the company and clients will be transferred to the bank
'Growth for some companies has been hard to come by and this is a smart way to get there.'
'The Casa ratio is at 33.4 per cent, which has to keep improving. Right now, there is a bit of liquidity pressure in the market.'
Maharashtra deputy CM Ajit Pawar on Monday said he is not bothered about his criticism by others and is only concerned about what key leaders of the ruling Mahayuti alliance say.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
Bandhan financial Services will raise funds via internal accruals.
Customised restaurant recreations, cafe setups, pop-ups by Michelin-star chefs, bespoke table linens with monograms and couple-themed hashtags.
In any case, Ghosh could take lessons from the best professionally managed companies all over the world that always groom the CEO successors well in advance.
Bandhan Bank has declared disappointing results for the first quarter of the 2023-24 financial year (Q1FY24). While the market has been braced for known issues around microfinance exposures in West Bengal and Assam, there is higher stress in the portfolio. This means higher credit costs and poorer asset quality, leading to target downgrades by analysts.
'Value index funds are most appropriate for long-term investors who can withstand deeper drawdowns.'
Billionaire Gautam Adani-led group's power transmission unit has raised $1 billion through a share sale, the first public equity raise by the conglomerate since a damning Hindenburg report, which wiped away billions in shareholder value. Adani Energy Solutions Ltd raised the funds through a qualified institutional placement (QIP) issue, sources with direct knowledge of the matter said. The QIP, which opened on Tuesday, was oversubscribed three times with demand of about Rs 26,000 crore - making it the largest transaction in India's energy space.
The Kolkata-based firm already has a presence in 22 states with over 2,000 branches and 5.9 million borrowers.
The TMC-led West Bengal government has already started laying the groundwork for the election, setting the tone with the recent Bengal Global Business Summit and the state Budget.
Shares of state-owned bank stocks were under pressure on Monday due to muted deposit and credit growth numbers reported by these lenders in the October-December quarter (Q3) of 2024-25 (FY25). The Nifty PSU Bank index was down 4 per cent, with Union Bank of India emerging as the biggest loser as its shares fell 7.5 per cent to close at Rs 114.7, followed by a 5.7 per cent drop in shares of Bank of Baroda (BoB) to Rs 228 and a 4.7 per cent slide in shares of Bank of India to Rs 99.8 on the National Stock Exchange.
Bandhan Bank has filed a draft red herring prospectus with Sebi for an IPO of up to 119 million equity shares, with face value of Rs 10 each.
