Published On:May 5 2014
Story Viewed 22371 Times
Bandhan Bank may open doors in 18 months.
Bandhan Finacial Services Pvt. Ltd. is looking at setting up about 600 branches across 22 States before it begins full-fledged banking operations.
These 600-odd branches will come up over an 18-month time-frame.
The West Bengal-based micro-finance institution (MFI), and IDFC beat 21 applicants - including Aditya Birla Nuvo, Bajaj Finserv, Indiabulls and L&T Finance - which had applied to the RBI for securing a banking licence.
According to Chandra Shekhar Ghosh, Chairman and Managing Director, Bandhan Financial Services, the focus would be to cater to its existing customer-base of 55 lakh. As such, it would require approximately 600-odd bank branches to cater to them.