Kolkata, July 28 (KNN) Bandhan Bank, the country's newest bank, will be launched by President Pranab Mukherjee on August 23 at Science City here in the city, after which it will graduate from a microfinance institution to a full-fledged bank.
 
Bandhan Bank is all set to start with a Rs 11,000-crore book, capital of Rs 3,200 crore, 500-600 branches and 250 ATMS across India.
 
 As much as 65 per cent of the branches of the bank would be in rural areas, while the rest 35 per cent would be opened in urban areas.
 
International Finance Corporation, Singapore government-backed GIC and the state-run Small Industries Development Bank of India have invested in Bandhan Bank.


Bandhan has appointed 850 experienced banking professionals at senior and middle level positions to run its operations, in addition to 18,000 employees that the microfinance entity already has on its payroll. 
Ashok Kumar Lahiri, a former Chief Economic Advisor to the Centre, will be the Chairman, while Chandra Shekhar Ghosh will be the MD and CEO of the bank. Both appointments are subject to Reserve Bank of India approval.
 
Bandhan’s logo – an image of the ‘diya’ – has been designed by Ogilvy and Mather. (KNN Bureau)