Singapore’s sovereign wealth fund GIC and International Finance Corporation have increased their stakes in Bandhan Bank, which is into its sixth month of operation.

The global investors, along with state-run Small Industries Development Bank of India, together put in Rs 482 crore in Bandhan, taking the entity’s total capital to Rs 3,052 crore, more than six times the minimum Rs 500 crore capital norm for new private banks. “The fresh equity investment will improve customers’ confidence in us, especially for people who are depositing their funds with us,” Bandhan Bank Managing Director Chandra Shekhar Ghosh told ET. “We have now become much stronger in terms of capital.”

http://economictimes.indiatimes.com/industry/banking/finance/banking/global-investors-put-more-capital-in-bandhan-bank/articleshow/51097844.cms

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