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RBI lifts curbs, allows Bandhan Bank to open new branches

Feb 26, 2020 15:04 IST

The Reserve Bank of India has lifted regulatory restrictions imposed on Bandhan Bank, allowing it to open new branches without prior permission. Bandhan Bank informed exchanges, that the restriction has been lifted on the condition that 25% of the new banking outlets be opened in unbanked rural centres. The RBI had imposed penalties on the bank as it had violated regulatory norms to dilute promoter shareholding.

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