Bandhan Bank informed the exchanges Tuesday post market hours that the Reserve Bank of India (RBI) vide its letter dated February 25, 2020 has informed that though the Bank is still not in compliance with the licensing condition on dilution, considering the efforts made by the Bank to comply with the said licensing condition, it has lifted the regulatory restriction on branch opening, subject to the condition that the Bank ensures that at least 25% of the total number of 'Banking Outlets' opened during a financial year are opened in unbanked rural centres.
The stock has surged ~5% on BSE in the oprning trade today.
Stock view:
Bandhan Bank Ltd is currently trading at Rs420.65 up by Rs16.8 or 4.16% from its previous closing of Rs403.85 on the BSE.
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