Bandhan Bank promoter to gradually reduce stake to meet RBI norms

Bandhan Financial Services, the promoter of Bandhan Bank, plans to gradually reduce its stake in the lender to align with Reserve Bank of India regulations by 2030. The promoter has already sold shares on the open market to lower its holdings.

To further attract retail investors and facilitate the stake reduction, the promoter has proposed a stock split. Shareholders are expected to review and approve this proposal at the bank's upcoming annual general meeting.