RBI lifts curbs on Bandhan MD’s pay

Bandhan Bank on Monday said the RBI had lifted restrictions on the remuneration of the bank’s MD & CEO Chandra Shekhar Ghosh at the existing level. The curbs were withdrawn after the lender met RBI norms to reduce promoters’ stake to 40%.

“This is pursuant to Bandhan Bank’s promoter entity Bandhan Financial Holdings Ltd., a non-operating financial holding company, successfully bringing down its stake to 40% in the bank from an earlier level of around 61% by selling shares in a block deal on August 3, 2020,” Bandhan Bank said. All regulatory restrictions imposed by the RBI on the lender are now withdrawn, Bandhan said.

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