Ratan Kumar Kesh Appointed as Interim MD and CEO of Bandhan Bank

Bandhan Bank's board has approved the appointment of Ratan Kumar Kesh as interim MD and CEO effective July 10, following the exit of founder MD and CEO Chandra Shekhar Ghosh. Kesh's appointment will last three months or until a permanent successor is named, pending shareholder approval.

Bandhan Bank has announced the appointment of Ratan Kumar Kesh as its interim Managing Director and CEO, taking effect from July 10. This decision comes a day after the bank's founder, Chandra Shekhar Ghosh, steps down from his role.

Ghosh, who has been the MD and CEO since the institution's inception in 2015, confirmed his departure on April 5. Kesh's interim position will last for three months or until the appointment of a new MD and CEO, the bank stated in a regulatory filing.

The decision, pending shareholder approval, follows the recommendation from the Nomination and Remuneration Committee and the Reserve Bank of India. Bandhan Bank, a significant player in the microfinance sector, was listed in 2018 and expanded its offerings with the acquisition of Gruh Finance in 2019.

(With inputs from agencies.)