Bandhan Bank Limited has announced the formal appointment of Mr. Debashish Mukherjee as Independent Director, effective March 25, 2026, following receipt of approval from the Ministry of Finance. The appointment represents the culmination of a process that began with the Board of Directors' approval in February 2026.

Appointment Details and Structure

The bank has disclosed that Mr. Mukherjee holds two distinct positions within the organization's governance framework:

Regulatory Approval Process

The appointment required Ministry of Finance approval due to specific regulatory circumstances. The bank had previously informed stakeholders through a letter dated February 12, 2026, that the Board of Directors had approved Mr. Mukherjee's appointment based on recommendations from the Nomination and Remuneration Committee. However, the appointment was subject to Ministry of Finance approval since it fell within the cooling-off period of one year from his retirement from Canara Bank.

Director Qualifications and Independence

Bandhan Bank has confirmed that Mr. Mukherjee meets all regulatory requirements for the independent director position. The bank specifically disclosed that:

• He is not related to any other directors of the bank
• He is not debarred or disqualified from holding directorial office by the Securities and Exchange Board of India or any other regulatory authority
• His appointment aligns with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015

Corporate Governance Framework

The appointment strengthens Bandhan Bank's board composition and governance structure. As an Independent Director serving a three-year term, Mr. Mukherjee will contribute to the bank's strategic oversight and regulatory compliance. The position requires shareholder approval within three months, following standard corporate governance protocols for independent director appointments.

The disclosure has been made available on the bank's official website at www.bandhan.bank.in , ensuring transparency and compliance with listing requirements. This appointment reflects the bank's commitment to maintaining robust governance standards and regulatory compliance in its board composition.

Caladium Investment Pte. Ltd., a Singapore-based investment entity, has reduced its shareholding in Bandhan Bank Limited through open market transactions, as disclosed under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 2011.

Transaction Details

The investment firm sold 1,287,431 equity shares of Bandhan Bank on 20 March 2026 through open market sale transactions. This sale represents 0.080% of the bank's total share capital and 0.078% of its diluted share capital.

Shareholding Changes

Following the transaction, Caladium Investment's shareholding in Bandhan Bank has been reduced from 3.816% to 3.736% of the bank's total share capital.

Bank's Updated Share Capital

The disclosure was made based on Bandhan Bank's updated equity share capital structure. On 16 March 2026, the bank disclosed that its total paid-up equity share capital had increased to 1,610,972,314 equity shares, following the allotment of stock options to eligible holders under the Bandhan Bank Employee Stock Option Plan Series 1.

The bank's total diluted share capital stands at 1,659,097,063 equity shares as per the shareholding pattern dated 31 December 2025.

Regulatory Compliance

Caladium Investment clarified that since its last disclosure on 14 May 2025, when it held 93,206,774 equity shares (5.786%) of Bandhan Bank, it has sold equity shares in multiple non-reportable tranches. The current disclosure was triggered when the aggregate sales reached the threshold requiring disclosure under Regulation 29(2) of the SAST Regulations.

The disclosure document was signed by Mark Lim Tze-Han, Director of Caladium Investment Pte. Ltd., on 24 March 2026 in Singapore. Caladium Investment is not part of the promoter or promoter group of Bandhan Bank, and the bank's shares are listed on both the National Stock Exchange of India Limited and BSE Limited.