India
bandhan bank
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Description
Bandhan started in 2001 as a not-for-profit enterprise providing microloans to the underprivileged sections of the society.[5] It focussed on financial inclusion and women empowerment through sustainable livelihood creation. In 2006, Bandhan acquired an NBFC to scale up its microfinance activities. It turned into an NBFC-MFI to further its core objective of financial inclusion. In 2010, Bandhan was recognised as the largest MFI in the country.
On April 2, 2014, Bandhan received an in-principle approval for setting up a universal bank. On June 17, 2015, the Reserve Bank of India granted the universal banking licence to Bandhan Bank. Two months later, on August 23, Bandhan Bank commenced operations. Its public shareholders then included International Finance Corporation; an arm of GIC, the sovereign wealth fund of Singapore; and Small Industries Development Bank of India.
The then Hon’ble Union Finance Minister, Shri Arun Jaitley, inaugurated the bank on August 23, 2015, in Kolkata, making Bandhan Bank the first bank to be set up in Eastern India post-Independence.
On March 27, 2018, Bandhan Bank got listed on the bourses and became the 8th largest bank in India by market capital, on the day of listing itself.[6]
On April 2, 2014, Bandhan received an in-principle approval for setting up a universal bank. On June 17, 2015, the Reserve Bank of India granted the universal banking licence to Bandhan Bank. Two months later, on August 23, Bandhan Bank commenced operations. Its public shareholders then included International Finance Corporation; an arm of GIC, the sovereign wealth fund of Singapore; and Small Industries Development Bank of India.
The then Hon’ble Union Finance Minister, Shri Arun Jaitley, inaugurated the bank on August 23, 2015, in Kolkata, making Bandhan Bank the first bank to be set up in Eastern India post-Independence.
On March 27, 2018, Bandhan Bank got listed on the bourses and became the 8th largest bank in India by market capital, on the day of listing itself.[6]
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