Chandra Shekhar Ghosh is the CEO of which bank that is looking to diversify into the non micro-credit area?
Ujjivan Small Finance Bank
Bandhan Bank
Utkarsh Small Finance Bank
Grameen Bank
Answer: Bandhan Bank
Chandra Shekhar Ghosh is the CEO of Bandhan Bank, which is headquartered in the Indian state of West Bengal’s capital, Kolkata. Apart from being the CEO, Ghosh is also the Founder and Managing Director (MD) of Bandhan Bank.
The Bandhan Bank was established in 2015 and since then, has made its way to 34 out of 36 Indian states and Union Territories. The Bandhan Bank boasts of 5639 branches and more than 2.50 crore customers all over the country. When it received the universal banking license from the Reserve Bank of India (RBI) in 2015, it had only 501 branches across India, along with 50 ATM booths and 2022 banking units. As of March 31, 2022, Bandhan Bank has 96,331 crore in deposits and 99,338 crore in total advances.
The primary aim of Bandhan Bank is banking, with more than 70% of its branches being in rural and semi-urban regions of the country. Four years after its establishment, Bandhan Bank bought GRUH Finance Limited, which works in housing development and financing. The move was because Bandhan Bank wanted to make inroads in the cheap housing finance sector.
The Bandhan Bank is also part of the Bandhan Financial Holdings Limited, which currently holds 39.99% stake in the company. The BFHL is also a subsidiary of Bandhan Financial Services Limited. Housing Development Finance Corporation Limited and Caladium Investment Pte. Limited are some of the other major stakeholders in Bandhan Bank, with 9.89% and 7.79% holding respectively.
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