Arun Kumar Singh, a former chief general manager of the Reserve Bank of India, has been added as a new director to the Bandhan Bank board. The appointment is effective June 24 and will last for a year, according to a Monday exchange filing by Bandhan Bank. On July 9, Chandra Shekhar Ghosh, the bank's MD and CEO, will leave office.

According to individuals who spoke with FE, the appointment is made to support board monitoring and help with a seamless transition. No other significant issues with the bank exist

Ghosh unexpectedly announced his retirement in April of this year, stating it would take effect on July 9. Even after the Bandhan board granted his three-year extension until November of last year, the decision was made.

The bank has not yet suggested Ghosh's replacement's name. It must provide the RBI with several CEO nomination suggestions in the desired order in order for it to be approved. There are currently no other significant issues with the bank, according to sources, who also stated that the action was taken to support board monitoring and help ensure a seamless and orderly transfer.