Bandhan Bank stock surges 7% as RBI approves new MD & CEO, NCGTC to pay Rs 315 cr under CGFMU claim
Bandhan Bank’s stock price surged sharply, climbing over seven percent during the morning session. This was driven by positive market sentiment after the Reserve Bank of India (RBI) approved Partha Pratim Sengupta’s appointment as the private bank’s new Managing Director and Chief Executive Officer (CEO).
Partha Pratim Sengupta formally accepted the role on October 9, 2024. The following day, October 10, he confirmed that he would resign from his current responsibilities to comply with the RBI’s regulatory terms. His three-year tenure is slated to begin by November 10, 2024, marking a significant leadership transition for Bandhan Bank. Before he officially takes over the reins, the appointment still requires the final green light from the bank’s Nomination and Remuneration Committee. This leadership change is anticipated to strengthen the bank’s strategic direction and operations, fostering positive investor confidence reflected in the sharp rise in share prices.
