Mumbai, June 18 (KNN) After getting the final nod from the Reserve Bank of India (RBI) to set up a universal bank, Bandhan Financial Services Ltd said at present it would like to lend mainly to small and medium enterprises and not focus on corporate lending.
 
The microfinance company, Bandhan Financial Services Ltd has planned for launch in Kolkata — the city where Bandhan is headquartered — on August 23.
 
Bandhan had received the RBI’s in- principle licence in April 2014.
 
“We have adequate capital and solid risk management system in place and we will serve everyone with utmost honesty and the highest ethics,” said Chandra Shekhar Ghosh, Director of Bandhan Financial Services Ltd, while addressing a press conference here on Wednesday.
 
 “At present, we will like to establish ourselves as the best bank,” said Ghosh, adding, “We will like to lend mainly to small and medium enterprises, in addition to those we are already lending……I would not like to go to corporate lending.”
 
Ghosh said that the microfinance company’s plan is to open around 500-600 branches across India with a special focus on the east and north-eastern parts of the country. “We will be a bank for all, but our primary objective will be to serve the un-banked,” said   Ghosh.
 
He pointed that all the existing microfinance businesses of the NBFC and the clients would be transferred to the new bank. (KNN Bureau)