Ratan Kumar Kesh Appointed as Interim MD & CEO by Bandhan Bank

Ratan Kumar
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On Saturday, Bandhan Bank’s board of directors appointed Ratan Kumar Kesh as interim managing director and CEO, effective July 10. Kesh is now the bank’s executive director and chief operating officer. The role will last three months, or until a new MD and CEO enter office.

The Reserve Bank of India (RBI) has accepted Kesh’s appointment. He currently works as the bank’s executive director (ED) and chief operating officer. The bank’s MD and CEO, Chandra Shekhar Ghosh, is set to retire on July 9 after finishing his tenure. Ghosh has been managing the Kolkata-based lender since July 10, 2015. Ghosh will retire and take on a strategic role at the parent business, Bandhan Financial Services Ltd (BFSL), which owns 40% of the institution.
It also holds stock in life insurance and mutual fund firms.

Kesh’s appointment must be authorized by the bank’s shareholders, the organization stated.
Kesh formerly worked for several private-sector lenders, including ICICI Bank, HDFC Bank, YES Bank, and Axis Bank. Before joining the banking industry, he worked for the Aditya Birla Group and the RPG Group.

Kesh holds a mechanical engineering degree from NIT Durgapur and a Post Graduate Diploma in Business Management from NMIMS Mumbai.

In a regulatory statement with the stock exchange on Saturday, the lender stated that Kesh will serve as temporary MD and CEO for three months or until the next incumbent takes over, whichever comes first.

The appointment of Kesh is subject to the permission of the Reserve Bank of India and is based on the suggestion of the bank’s nomination and remuneration committee and board of directors during a meeting conducted during the day. According to the submission, Kesh is not barred or disqualified from holding the position of director due to any order issued by the SEBI or any other similar entity.

The appointment of Kesh is also subject to confirmation by bank shareholders. Kesh has served as the executive director and chief operating officer of Bandhan Bank from March 2023. He formerly worked with ICICI Bank, HDFC Bank, Yes Bank, and Axis Bank.