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.
The Reserve Bank of India's 2024 norms for the voluntary conversion of Small Finance Banks (SFBs) into universal banks, particularly the subjective 'diversified loan portfolio' criterion, are proving to be a significant hurdle, with Ujjivan SFB and Jana SFB having their applications returned.
Bandhan Bank is expecting that a little less than 50 per cent of its portfolio will be dominated by affordable housing loans in the next three to five years.
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.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
A new crop of lending agencies like Dewan Housing Finance, Gruh Finance, Micro House Finance Corporation, SEWA and Mahindra Rural Housing Finance have entered the market.
/We will stay away from corporate loans,' C S Ghosh, managing director and chief executive officer of Bandhan Bank, tells Namrata Acharya.
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
The Indian indices also offer one of the lowest dividend yields.
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.
The total income during the period rose to Rs 8,482.85 crore (Rs 84.82 billion), from Rs 7,388.51 crore (Rs 73.88 billion) in the same period a year ago.
The Prime Minister's Office has suggested that EPFO should deploy 15 per cent of its funds as loan for low cost housing saying it would generate a credit flow of Rs 70,000 crore (Rs 700 billion).
The coming years could be exciting for Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank.
Nifty50 surged 145 points to close at 8,468 after hitting an intra-day high of 8,475.
The BSE Sensex spurted 130.00 points to end at 35,980.93, while the broader NSE Nifty advanced 30.35 points to 10,802.15.
These consistent performers are expected to maintain momentum.
The reason is believed to be a 19% increase in interest cost.
Sensex, Nifty put up a good show in closing trade.
Experts feel select companies in banking, automobiles, financial services & real estate will gain from lower interest rates
Sun Pharma stock has appreciated at 35% a year for 20 years
From MRF to Shree Cement: 23 companies which delivered 30% CAGR in 15 years.
HDFC, the pioneer, ICICI, the game-changer, and SBI, the original teaser, turned the market on its head.
Budget in the medium term aims to kick-start the investment cycle.
Raamdeo's base argument is that India's stock market merely mirrors the national economy, which is poised for big things.
Despite the rally, on the basis of valuations, Indian markets aren't too expensive, says Christopher Wood, managing director and equity strategist at CLSA.
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