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NEW DELHI :
Shares of Bandhan Bank on Tuesday gained over 2% after the corporate stated the Reserve Bank has totally withdrawn the restrictions imposed on the personal sector lender for top promoter holding, almost two years after imposing them.
The inventory rose by 2.47% to Rs294.40 on the BSE.
At the NSE, it jumped 2.47% to Rs294.40.
The restrictions included in search of prior approvals for community enlargement, and likewise freezing managing director and chief govt Chandra Shekhar Ghosh’s remuneration.
Earlier this month, the financial institution’s promoter Bandhan Financial Holdings bought shares value $1.four billion or over Rs10,500 crore at a reduction to scale back its stake by over 20% to 40%, the extent acceptable for the regulator.
In September 2018, the RBI had imposed the restrictions, and did away with the situation of in search of approval for opening banking retailers in February this yr.
The RBI, vide its communication dated August 17, 2020 has lifted the opposite regulatory restriction (on) ‘the remuneration of the MD and CEO of the financial institution stands frozen, on the current degree’, the financial institution stated.
Consequent to the above, all the regulatory restrictions imposed by the RBI vide letter dated September 19, 2018, on the Bank at the moment are withdrawn, it added.
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