Bandhan Bank MD & CEO To Retire LIVE | CS Ghosh To Step Down As MD & CEO Of Bandhan Bank | Exclusive

well thanks very much for that and thank you Mr Chandra shakar Goos for joining us early on Monday morning you know you founded and led bundan Bank since its Inception 24 years ago and as the bank CEO for nearly a decade now so why this decision to step down I guess is the first question no first uh there a good point on that the you see that the after the born a baby as a daughter and every father has given the married and it is a painful no doubt on that 24 years which I have been developed on that and I feel that this is a right time which I like to uh give to the senior new management team hand over it and I like to take uh the charts on that the Strategic in the hold SCH level but that is the main reasion I have been last couple of years in that plan and are informed in this the uh uh month but Mr G the timing of it you're saying you planned this for the last couple of years but the board had approved your reappointment uh just a few months back for 3 years uh you know why was this change in mind now was it already communicated to the board and if so why did they agree on this threeyear tenor what changed for you to reconsider your decision I have a divided in two part in here the first part is in very short I have been like to give the answer the fifth of the day the same question asked my wife you are sleeping with me and eating with me but not in a Shar and I heard from the other people ask them why you are done it so this is my confidentiality I should be maintained as a MD and CEO of the bank so this is the part of this other part I say that the you are mentioned I mentioned again 24 4 years uh I have been developed this institution from the scratch this is a 10 years which I received in principal license from our Reserve Bank of India in the same month in April 2014 one and half years I have been taken the time to build up the all process as a system and recruited the people to start the bank it's a very hard job with my team I have been done it all that and 2015 I open the bank and up to 2018 if you see that the three years and these are the three years I have been developed the bank and keep that uh people's trust on the bank to deposit attract to the depositor and best model we have been developed and also we are listed within a three years it's a very tough time though it is demonetization during that if I go to this 1920 I have need to dilution I going to this the equired as a group of Finance I have done it and very tough time in that time I have been also dilution have been done and next point if you come on that the worst time in my life on that 2122 which is a pandemic has come and heated it to my microcredit book in a big way and those so that after that how I can recover it 2223 I recovered more or less in the 70% off 80% but not any my satisfaction has come on that achievement 2324 I have been seen that the very fantastic way has been come as a business momentum sleep is has controlled and this is the one part second part if you recall on that my plan in the one year before I recruited in one executive director in the last March and this whole year I have been given a lot of things from my side to him and the last two months the another executive director I have been recruited he joined my CF has joined my Maris loone ha been joined one year before my micro credit head is in uh he also had a join all of this the team has been now in the in the bank so I feel that this is a right time I can be declared after closing the total Financial year April to March then I can be like to declare on that and next three months I will be like to guided my new team and the old team how it can be like to strategically we go to growth of the next ofand so this is the my plan and that we I have been down it on that but uh you know Mr go just to take that forward you spoke of a whole host of new hands joining the bank only very recently at very Senior Management levels uh you know there's been a bit of a churn as well you had your retail banking head resigning you had the CFO Sunil samani also exiting the bank and all of these new people now taking in so you know one would say that the Senior Management has been in a bit of a flux don't you think your exit to add to that will also so create some amount of uncertainty for the bank if you see that the senior management team there is a not all join in the last time I mentioned of that one senior executive director joined in the one year before he already seasoned at the bank no and micro Finance is my which is the biggest portfolio in the bank if we say that the 50% his head is in one year more he is working with me me and he also is very seasoned on that if I go to this my uh Commercial Banking head also I have been taken in the one year before he also is on season if I say that the my housing vertical is also working more than one and a half years he also seasoned on that I only taken couple of people who are Senor level who are in the captain level of so is there the ground will be very strong these people are working with me the long time and mid level there is in people we are developed them in the last more than one year one to three years and the top level we have been taken now I have also get the time in the next three months I'll be like to make it and them to to develop F if something need on that I have the confidence on that and other point I mentioned uh Bon is my baby I cannot give the risk to B I be like to decide how my baby will be like to save and accordingly I'll be like to exit so that is the my first priority of that well uh Mr go we'll get back to that succession planning in just a bit but you know again to the point that you've had this in mind for the last two years uh you did not communicate it to the board in November when they extended your term but you know have there been any conversations with RBI because their approval for your term extension was still pending or even now about the fact that you've decided to retire formally or informally what have the conversations with RBI been like no if you see that this is my totally voluntarily personal decision I like to timely inform to the board because as a MD if I discuss some other also it cannot be like to good so I like to that way to maintain on this this the part of this cont what is the other point that was you know what RBI has had to say formally or informally on you're not extending the term and of course I remembered I remember you see that that there isn't one very point on that you understand uh when the board has gone to arv to my proposal in November my point is that the in October we are transform our core banking system so I have need to 3 to six month of time to stabilize this the core banking system then I'll be like to discuss but if that time I have been discussed that my core banking system may be not smoothly transform on that so that is my apprehension so that I have not informed in that all right fair and square very clear there Chandra shakar go saying that it was his personal decision to retire from the bank it was purely Vol voluntary and he also mentioned that he will guide the team on any kind of strategic growth Direction over the next couple of months of course the overhang will still remain because of a lack of succession planning but that's the um you know Chandra shakar go coming out and saying that it's purely a voluntary a personal uh you know decision to retire from the bank but let's get back to tracking the markets now it's 910 and looks like [Music] it's

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Id: MtTDAruM4x0

Length: 9min 50sec (590 seconds)

Published: Mon Apr 08 2024