RBI freezes Bandhan Bank CEO's pay, stops branch expansion
The RBI has barred Bandhan Bank from opening new branches and frozen CEO Chandra Shekhar Ghosh's salary at the current level for not meeting licensing conditions. The bank was unable to bring down the shareholding of the Non-Operative Financial Holding Company to 40% within three years of starting operations. The promoter stake in the bank is currently at 82.28%.