Yunus, 70, said he was relinquishing his post to prevent undue disruption of the bank's work.
Yunus, 84, was administered the oath of office by President Mohammed Shahabuddin at a ceremony at the presidential palace 'Bangabhaban'.
The Nobel laureate filed an application before the High Court.
Bandhan Financial Services, which was given a banking licence on Wednesday, hopes to come up with a unique business model, with a mix of doorstep and retail banking.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
The Reserve Bank of India (RBI) on Monday allowed microfinance lenders to fix interest rates on loans with a rider that those should not be usurious for the borrowers. A microfinance loan is defined as a collateral-free loan given to a household having an annual income of up to Rs 300,000. Each regulated entity (RE) should put in place a board-approved policy regarding pricing of microfinance loans, said the 'Master Direction - Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022'. In the past, the central bank used to announce the rates on quarterly basis.
The poor and unbanked can take their rightful place as consumers of financial services only if the Modi government encourages different entities to advance the financial inclusion agenda, say Vikram Gandhi & Chandni Ohri.
The Congress has made lack of jobs, along with agrarian distress, its key election plank in the run-up to the December 7 assembly polls.
'...then Bangladesh would have been the world champions a long time ago!'
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
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