RBI Approves Partha Sengupta as New MD & CEO of Bandhan Bank

By siliconindia  |  Friday, 11 October 2024, 10:37:01 AM IST

RBI Approves Partha Sengupta as New MD & CEO of Bandhan Bank
Partha Pratim Sengupta, former managing director of Indian Overseas Bank (IOB), will take over as MD and CEO of Bandhan Bank. The Reserve Bank of India has granted its approval for his three-year appointment from the date of taking charge. According to the regulatory filing by Bandhan Bank, the officer will take over by November 10, 2024.
It also follows the developments in connection with his promotion as RBI deputy governor that Bandhan Bank confirmed on Tuesday that Sengupta accepted the offer on 9 October, and will thereafter step down from other engagements to comply with terms and conditions of RBI's approval.
Sengupta is an experienced banker having served as deputy managing director and chief credit officer at the State Bank of India (SBI) where he also started his banking career. However, he is going to take over at IOB for nearly two years till December 2022. An alumnus in Physics, Sengupta is a Certified Associate of the Indian Institute of Bankers and has undergone leadership training at Harvard Business School, IIM Calcutta and ISB Hyderabad.
That is after the Bandhan Bank board extended the tenure of interim head Ratan Kumar Kesh till November 10, 2024.
Another related development is that Bandhan Bank said it has completed a forensic audit of claims for insurance coverage under both Credit Guarantee Fund for Micro Units and Emergency Credit Line Guarantee Scheme. Almost 65 percent of the claims have been sanctioned, aggregating to Rs 1,231.29 crore. "Payouts are currently being made after adjusting some accounts due to operational gaps in FY 2020-21 following multiple lock-downs", stated a senior bank official.

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