Kolkata: Bandhan Bank Chief Executive Officer Chandra Shekhar Ghosh will retire after the completion of his current tenure on July 9, 2024. Ghosh has led the bank since July 10, 2015, and will play a strategic role at the holding company level, Bandhan Financial Services Ltd (BFSL), which owns 40 percent of the lender and has stakes in life insurance and mutual fund ventures. 

The screening and selection committee of the board will start the process of selecting probable candidates and recommend to the Reserve Bank of India (RBI) for approval. According to norms, a bank has to send at least two candidates in the order of preference for approval.

The Bandhan board approved Ghosh’s reappointment for a period of three years in November 2023.

Ghosh recalled the journey of Bandhan Bank, which was set up in 2001 as an NGO to meet the dual objectives of women empowerment and poverty alleviation. In 2006, Bandhan acquired a non-banking finance company (NBFC) and named it BFSL.

BFSL moved on with microfinance activities, while the NGO continued with development work. In 2010, BFSL toppled SKS to become India’s largest MFI. In 2013, the government of India announced guidelines for issuing fresh bank licenses, and BFSL and Ghosh jointly applied for a banking license in July 2013.

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