In a strategic move ahead of the retirement of Bandhan Bank’s Chief Executive, the Reserve Bank of India (RBI) has appointed Arun Kumar Singh as an additional director on the Board of the Kolkata-based lender. Singh’s term will span from June 24, 2024, to June 23, 2025.
The announcement comes as Chandra Shekhar Ghosh, MD & CEO of Bandhan Bank, plans to retire on July 9, 2024. Ghosh, who has been a pivotal figure in the bank’s growth, will transition to a larger strategic role within the Bandhan group. The bank has engaged the services of recruitment firm Egon Zehnder to identify potential candidates for the CEO position.
Arun Kumar Singh, who retired as Chief General Manager from the RBI, brings nearly 36 years of extensive experience in various capacities, including Non-Banking Supervision & Regulation, Banking Supervision & Regulation, Financial Inclusion, and Monetary Policy. His diverse expertise also spans Information Technology, Enforcement Actions against Banks & Non-Banks, and Government Banking. Additionally, Singh has served as an RBI nominee director on the boards of five banking and non-banking entities and spent three years as Regional Director for the State of Rajasthan.
Bandhan Bank, in its communication to exchanges, expressed confidence that Singh’s appointment will strengthen the board, leveraging his vast experience to navigate the bank through this transitional phase and beyond.
