RBI appoints additional director on Bandhan Bank Board

RBI appoints director on the Board of Bandhan Bank

Ahead of Bandhan Bank chief Chandra Shekhar Ghosh's retirement, the Reserve Bank of India (RBI) has appointed an additional director on the Board of the Kolkata-based lender.

The RBI appointed Arun Kumar Singh, Chief General Manager (retired), of Reserve Bank of India as an additional director on the Board of Bandhan Bank for a period of one year from June 24, 2024 to June 23, 2025, the bank said in a communication to exchanges on June 24.

This comes ahead of Bandhan Bank managing director and chief executive officer Chandra Shekhar Ghosh's retirement. In April, the bank said Ghosh would retire from the services of Bandhan Bank at the end of his current tenure on July 9, 2024, and assume a larger strategic role at Bandhan group level. The bank is currently searching for a new CEO and has appointed recruitment firm Egon Zehnder to identify the candidtes.

Arun Kumar Singh has working experience of almost 36 years in RBI and has worked in various capacities in the field of Non-Banking Supervision & Regulation, Banking Supervision & Regulation, Financial Inclusion and Monetary Policy.

Singh also worked in  departments such as Information Technology, Enforcement Actions against Banks & Non-Banks, Government Banking, etc.  Also, Singh served as RBI nominee director on the Boards of five banking and non-banking entities.

Singh also had a three-year stint as Regional Director for the State of Rajasthan.