The Reserve Bank of India (RBI) has appointed Arun Kumar Singh, retired Chief General Manager of the RBI, as an additional director on the Board of Bandhan Bank, effective from June 24, 2024, to June 23, 2025. This appointment comes as Bandhan Bank prepares for the retirement of its Managing Director and CEO, Chandra Shekhar Ghosh.

Bandhan Bank announced the appointment in a communication to stock exchanges, indicating that Singh will serve for a one-year term. His extensive career spans nearly 36 years at the RBI, where he held various roles in Non-Banking Supervision & Regulation, Banking Supervision & Regulation, Financial Inclusion, and Monetary Policy.

Ghosh, who will retire from his current role on July 9, 2024, will transition to a broader strategic position within the Bandhan Group. The bank has engaged recruitment firm Egon Zehnder to lead the search for his successor as CEO.

Arun Kumar Singh brings significant expertise to Bandhan Bank’s board, having worked in multiple RBI departments, including Information Technology, Enforcement Actions, and Government Banking. Additionally, he has experience as an RBI nominee director on the boards of five banking and non-banking institutions.

Bandhan Bank, headquartered in Kolkata, is navigating this leadership transition amid ongoing strategic growth and expansion. The appointment of Singh is expected to bolster the bank's governance framework and support its continued focus on regulatory compliance and operational excellence.