Bandhan Bank, one of Kolkata’s prominent financial institutions, is preparing for the retirement of its chief, Chandra Shekhar Ghosh. In anticipation of this transition, the Reserve Bank of India (RBI) has taken steps to ensure a smooth succession process. The RBI has appointed Arun Kumar Singh, a retired Chief General Manager from the Reserve Bank of India, as an additional director on the Board of Bandhan Bank.
According to a communication from the bank to the exchanges on June 24, Arun Kumar Singh’s appointment will be effective for one year, from June 24, 2024, to June 23, 2025. This move comes as Bandhan Bank prepares for the departure of Chandra Shekhar Ghosh, who will retire from his current position as managing director and chief executive officer on July 9, 2024. Ghosh will then assume a larger strategic role within the Bandhan group.
With nearly 36 years of experience in the RBI, Arun Kumar Singh brings a wealth of knowledge and expertise to his new role. Throughout his career, Singh has worked in various capacities, including Non-Banking Supervision & Regulation, Banking Supervision & Regulation, Financial Inclusion, and Monetary Policy. He has also gained experience in departments such as Information Technology, Enforcement Actions against Banks & Non-Banks, and Government Banking.
Singh’s contributions extend beyond his work within the RBI. He has served as the RBI nominee director on the Boards of five banking and non-banking entities, showcasing his ability to navigate the intricacies of the financial sector. Additionally, Singh has held the position of Regional Director for the State of Rajasthan for a period of three years.
With Arun Kumar Singh’s appointment to the Board of Bandhan Bank, the institution is poised to continue its growth and success under new leadership. As the search for a new CEO commences, the bank has enlisted the expertise of recruitment firm Egon Zehnder to identify potential candidates. This strategic approach ensures a smooth transition and sets the stage for Bandhan Bank’s continued prominence in the financial industry.
