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CURRENTAFFAIRS

October 2015

August 24, 2015

January 2015 |
Current Affairs 2014

The bank was inaugurated by Union Finance Minister Arun

Jaitley in Kolkata, ushering in a new era in countrys banking
sector to reach out to the unbanked population.

June 2015 |

February 2015 |

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Bandhan Bank has become the first micro-finance company in

India to start operation as full-fledged scheduled commercial
bank.

July 2015 |

March 2015 |

Bandhan, first micro finance company to start operation as a commercial

bank

August 2015 |

April 2015 |

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September 2015 |

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May 2015 |

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Key facts
Bandhan Bank has begun its operations after it had received an in-principle approval
from the Reserve Bank of India in April 2014 and final nod on June, 2015.
It was established in 2001 as a not-for-profit micro-finance enterprise by Chandra
Shekhar Ghosh with an aim to alleviate poverty by empowering women. Later in 2006,
it had transformed itself into a non-banking finance company (NBFC).
Bandhan Bank will now primarily cater to the unorganized sector in India like daily
wage earners and women running small businesses.

Current Affairs 2013

Headquarters: It has two divisions viz. micro banking and general banking.

Current Affairs 2012

As a bank, it will also offer services like savings, remittance and insurance services.

Current Affairs 2011

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Presently, it has 501 branches, 2022 service centres and 50 ATMs across 24 states.
Over 71 per cent of its branches are in rural India including 35 per cent in unbanked
rural pockets. State-wise, West Bengal has highest 220 branches, followed by Bihar

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(67), Assam (60), Maharashtra (21), Uttar Pradesh and Tripura (20 each) and

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Jharkhand (15).

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Business & Economy

It should be noted that prior to starting operation as commercial bank, Bandhan was
Worlds largest Non-Deposit-accepting Microfinance Institution (MFI) and Indias largest
microfinance company.
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