Bandhan Bank gets regulatory relief to bring down promoter stake
- By Reuters |
- Oct 12, 2018
- Last Updated at 16:11 IST
India's Bandhan Bank Ltd said on Friday the country's securities regulator exempted it from a restriction on promoters selling shares for one year after listing.
The Reserve Bank of India had earlier barred the lender from opening new branches and froze its chief executive officer's salary for failing to bring down its main shareholder's stake to below 40 percent.
Bandhan Bank's shares closed 0.5 percent lower on Friday.
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