Bandhan Bank Limited has accepted the resignation of Rajeev Mantri as its Co Chief Financial Officer (Co-CFO) and Key Managerial Personnel (KMP). Mantri tendered his resignation on June 29, 2026, citing the pursuit of another opportunity for career growth. His last working day with the bank is scheduled for September 25, 2026, following a notice period of 90 days. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the information was simultaneously uploaded on the bank's official website.

In his resignation letter, Mantri expressed gratitude to the Managing Director & CEO, Board members, Executive Directors, and his team for their guidance and support during his tenure. He noted that he enjoyed contributing to the strategic transformation of the bank. Mantri served as Executive President and Co-CFO at Bandhan Bank, and the bank has confirmed that his resignation is effective from the date of his last working day.

Key Details of Resignation

The following table summarises the key details related to Mantri's departure from the bank.

The bank's Board and management have acknowledged the resignation. The transition follows Bandhan Bank's internal policies regarding the departure of key managerial personnel.

Bandhan Bank has appointed former IRDAI Chairman Debasish Panda as its Non-Executive Chairman and Independent Director, effective July 05, 2026. The appointment, approved by the Board of Directors on June 25, 2026, is for a term of three consecutive years and is subject to shareholder approval within three months of the joining date. This strategic leadership change follows the prior approval granted by the Reserve Bank of India for Panda's appointment as Part-Time Chairman.

Debasish Panda (DIN: 06479085), a 1987 batch IAS officer, brings over three decades of experience across finance, insurance, and public policy. He served as Chairman of IRDAI from 2022 to 2025 and as Secretary, Department of Financial Services, from 2020 to 2022. His tenure at IRDAI was marked by the 'Insurance for All by 2047' vision, while his role in the DFS involved leading banking consolidations and financial inclusion initiatives. Panda has also held directorships on the boards of the Reserve Bank of India, State Bank of India, and Bank of Baroda.

The appointment fills the vacancy created by the departure of Dr. Anup Kumar Sinha, who will complete his tenure as Non-Executive Part-Time Chairman and Independent Director on July 04, 2026. The Board acknowledged Dr. Sinha's contributions during his service. Panda is unrelated to the other directors of the bank and holds no disqualification from holding the office of director from SEBI or any other authority.

Capital Plan Assessment

Separately, the Board reviewed the bank's capital plan and concluded that the institution is currently well capitalised and does not require immediate additional capital infusion. However, to support envisaged future growth, the Board has advised in-principle that the bank may initiate discussions for raising capital. Appropriate disclosures will be made to the stock exchanges in accordance with SEBI LODR regulations as and when required.

Key Appointments and Dates