Bandhan Bank Board Greenlights Chandra Shekhar Ghosh's Three-Year Extension As MD

Bandhan Bank, on Friday, officially sanctioned the extension of Chandra Shekhar Ghosh's term as its Managing Director and Chief Executive Officer for an additional three years. However, this reappointment, scheduled to take effect from 10 July 2024, is contingent upon receiving approval from the Reserve Bank. The board's decision, outlined in a regulatory filing, is subject to endorsement from both the Reserve Bank of India (RBI) and the bank's shareholders.

The regulatory filing also highlighted the expiration date of Ghosh's current tenure as MD and CEO, set for 9 July 2024. In adherence to regulatory provisions, the bank plans to submit the application for Ghosh's reappointment to the RBI at least six months before the conclusion of his existing term. 

This strategic timeline ensures compliance with the regulatory framework. The next step involves submitting an application to the RBI to secure prior approval for the extension within the stipulated timeframe provided by the central bank. The comprehensive process aims to uphold transparency and regulatory adherence in the governance of Bandhan Bank.