Bandhan Bank CEO Chandra Shekhar Ghosh will retire at the end of his term
On Friday, Bandhan Bank’s founder, managing director, and CEO Chandra Shekhar Ghosh announced his retirement from his current position at the end of his third term on July 9, 2024. Despite this, he intends to maintain a significant strategic role within the bank post-retirement.
The screening and selection committee of the board will initiate the candidate selection process and propose potential candidates to the Reserve Bank of India (RBI) for approval. As per regulations, a bank must submit a minimum of two candidates in order of priority for consideration.
In November 2023, Bandhan Bank‘s board sanctioned the re-appointment of Ghosh as Managing Director (MD) and Chief Executive Officer (CEO) for a three-year term. In his resignation letter addressed to the bank’s board, Ghosh reflected on founding Bandhan as an NGO in 2001 with the aim of advancing both women empowerment and poverty alleviation.
Subsequently, in 2006, Bandhan acquired a non-banking financial company (NBFC) and rebranded it as Bandhan Financial Services, which later emerged as the leading microfinance institution by 2010. Following an in-principle approval from the Reserve Bank of India in 2014, Bandhan Bank was poised to transition into a universal commercial bank
