Kesh’s appointment is effective for three months, or until the new MD and CEO take over, whichever comes first, according to Bandhan Bank’s regulatory filing.
The founder MD and CEO of the private sector Bandhan Bank, Chandra Shekhar Ghosh, is scheduled to retire on July 10; on Saturday, the bank announced that Ratan Kumar Kesh has been appointed by the board as an interim CEO and MD effective immediately. Since the bank’s establishment in 2015, Ghosh has served as its MD and CEO. He made his departure known on April 5. According to the bank’s regulatory filing, Kesh’s appointment is for a duration of three months, or until the new MD and CEO take over, whichever comes first.
“We would like to inform you that, pursuant to the approval of the RBI and on the basis of the recommendation of the Nomination and Remuneration Committee, the board of the bank, at its meeting held today, has approved the appointment of Ratan Kumar Kesh, ED and Chief Operating Officer, as interim MD and CEO, with effect from July 10,” said the statement.
It further stated that the bank’s shareholders must approve Kesh’s appointment as interim MD and CEO. Launched on August 23, 2015, Bandhan Bank now has 50 ATMs and 501 branches located throughout 24 states.
It is the first microfinance organization from the east to ever become a universal bank. 2018 saw the successful bourse listing of Bandhan Bank. In order to offer home buyers more inexpensive banking options, Gruh Finance was acquired in 2019. On April 2, 2014, the Reserve Bank of India (RBI) gave its in-principle approval for the establishment of a universal bank to just two organizations: Bandhan Bank and IDFC Ltd.
Do Follow: CIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter
About us:
CIO News is the premier platform dedicated to delivering the latest news, updates, and insights from the CIO industry. As a trusted source in the technology and IT sector, we provide a comprehensive resource for executives and professionals seeking to stay informed and ahead of the curve. With a focus on cutting-edge developments and trends, CIO News serves as your go-to destination for staying abreast of the rapidly evolving landscape of technology and IT. Founded in June 2020, CIO News has rapidly evolved with ambitious growth plans to expand globally, targeting markets in the Middle East & Africa, ASEAN, USA, and the UK.
CIO News is a proprietary of Mercadeo Multiventures Pvt Ltd.
