Mumbai: The Reserve Bank on Monday appointed AK Singh as additional director on the board of Bandhan Bank.
The appointment of Singh, a career central banker who retired as RBI chief general manager, is for one year, the Kolkata-headquartered lender said in a regulatory filing.
However, Bandhan Bank did not specify the factors that necessitated Singh's appointment. There are not many examples of such actions by the central bank.
A recent example would include the appointment of a serving RBI official to the board of private sector lender RBL Bank following reports of some concerns in the bank's operations.
It may be noted that this development comes ahead of the retirement of Bandhan Bank founder and chairman C S Ghosh from the bank on July 9.
The bank, made up of micro lenders, is grappling with a high proportion of stressed advances and is looking to reduce the share of overall unsecured loans.
Shares of Bandhan Bank closed 0.67 per cent lower at Rs 207.75 on the BSE on Monday, compared with a 0.17 per cent rise on the benchmark.
The appointment of Singh, a career central banker who retired as RBI chief general manager, is for one year, the Kolkata-headquartered lender said in a regulatory filing.
However, Bandhan Bank did not specify the factors that necessitated Singh's appointment. There are not many examples of such actions by the central bank.
A recent example would include the appointment of a serving RBI official to the board of private sector lender RBL Bank following reports of some concerns in the bank's operations.
It may be noted that this development comes ahead of the retirement of Bandhan Bank founder and chairman C S Ghosh from the bank on July 9.
The bank, made up of micro lenders, is grappling with a high proportion of stressed advances and is looking to reduce the share of overall unsecured loans.
Shares of Bandhan Bank closed 0.67 per cent lower at Rs 207.75 on the BSE on Monday, compared with a 0.17 per cent rise on the benchmark.
