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Bandhan to start operations by Sept next

img_2091.jpgBandhan Financial Services, which is preparing to launch its bank, said it proposes to launch banking operations by September 2015. Chandra Shekhar Ghose, CMD of Bandhan, said the banking operations of the company would start in the next financial year, anytime between April and September. Ghosh revealed that IFC has shown interest in increasing its stake in the company, while other investors are in talks with the management. A decision about IFC increasing its stake or allowing any private equity players to be participating in the investment program would be taken in next 1-2 months, he said. SIDBI is the other investor in the company. Ghosh said the company plans to start initially with 600-700 branches across the country. Around 80% of the branches will be in the rural areas and the rest in the urban regions.

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