Reserve Bank announced that that Bandhan Bank has been included in the second schedule list to making it eligible for loans from the central bank at bank rate under the Reserve Bank of India Act.
- A scheduled bank is eligible for loans from the RBI at bank rate. They are also given membership to clearing houses.
- Bandhan Bank is the first instance of a micro-finance entity in India transforming into a universal bank.Besides, Industrial Bank of Korea and Korea Exchange Bank Co Ltd have been included in the second schedule.
Bandhan Bank :
It received an in-principle approval from the RBI in April 2014 and the banking regulator’s final nod on June 17, 2015.
- Bandhan Bank Headquarters : Kolkata, West Bengal
- Bandhan Bank CEO : Chandra Shekhar Ghosh
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