Kolkata, August 17: Bandhan Bank on Monday said the Reserve Bank of India has lifted restrictions on remuneration of the bank's MD & CEO Chandra Shekhar Ghosh at the existing level.

The curbs were withdrawn after the lender met RBI norms to reduce promoters' stake to 40 per cent. Also Read | India's GDP to Contract 16.5 Percent in Q1 Due to COVID-19 Pandemic: SBI Report.

"This is pursuant to Bandhan Bank's promoter entity Bandhan Financial Holdings Ltd (BFHL), a non-operating financial holding company, successfully bringing down its stake to 40 per cent in the Bank from an earlier level of around 61 per cent by selling shares in a block deal on August 3, 2020," Bandhan Bank said in a statement. Also Read | iQOO 5 & iQOO 5 Pro Smartphones with Snapdragon 865 SoC Launched; Prices, Features, Variants & Specifications.

All regulatory restrictions imposed by the RBI on the lender are now withdrawn, it said.

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