RBI penalizes Bandhan Bank for non-compliance

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on Bandhan Bank Limited. RBI stated that this action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank.

NCLT clears the amalgamation of Bandhan Bank & Gruh Finance

The amalgamation of Bandhan Bank & Gruh finance has been approved by NCLT’s Kolkata and Ahmedabad benches. October 17 has been fixed as the record date following the effectiveness of scheme for determining shareholders of the merged entity.