Bandhan Bank Limited has announced the grant of stock options under its Employee Stock Option Plan Series 1, demonstrating the bank's commitment to employee incentivization through equity participation. The Nomination and Remuneration Committee of the Board approved this grant on April 22, 2026, as part of the bank's ongoing employee benefit initiatives.

Stock Option Grant Details

The committee granted 10,000 equity stock options to an eligible employee under the Bandhan Bank Employee Stock Option Plan Series 1 - Tranche 7. The grant was made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full regulatory adherence.

Pricing and Regulatory Compliance

The grant price of Rs. 176.13 per option was determined based on the latest available closing price on the National Stock Exchange of India Limited on Tuesday, April 21, 2026. This pricing methodology follows the trading day immediately preceding the grant approval date, ensuring market-based valuation.

The Employee Stock Option Plan Series 1 has been formulated and approved by shareholders pursuant to SEBI (Share Based Employee Benefits) Regulations, 2014, which was subsequently replaced by SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Vesting Schedule and Exercise Terms

The granted options follow a systematic vesting structure designed to promote employee retention and long-term commitment:

Each stock option carries the right to apply for and be allotted one equity share of face value Rs. 10 each of the bank. The exercise period extends for a maximum of five years from the date of respective vesting of options, providing flexibility for the option holder.

Corporate Governance and Disclosure

The bank has fulfilled its disclosure obligations under Regulation 30 of SEBI LODR, demonstrating transparency in corporate governance practices. The announcement was made simultaneously to both BSE Limited and National Stock Exchange of India Limited, with the disclosure also uploaded on the bank's official website at www.bandhan.bank.in .

Bandhan Bank has received regulatory approval for a key leadership appointment, marking a significant development in the bank's governance structure. The Reserve Bank of India has granted its prior approval for the appointment of Mr. Debasish Panda as Part-Time Chairman, bringing extensive financial sector expertise to the institution.

RBI Approval Details

The central bank's approval came through its letter dated April 22, 2026, authorizing Mr. Panda's appointment for a three-year term. The appointment is subject to compliance with conditions specified by the RBI and will be effective from the date of taking charge.

Leadership Profile

Mr. Debasish Panda brings distinguished credentials to Bandhan Bank, with a career spanning more than three decades in public service and financial sector leadership. As a 1987 batch IAS officer of Uttar Pradesh cadre, he has held several key positions in India's financial ecosystem.

His recent leadership roles include serving as Chairman of IRDAI from 2022 to 2025, where he spearheaded the vision of 'Insurance for All by 2047' and redefined regulatory frameworks with a focus on customer-centric governance. Prior to this, he served as Secretary of Department of Financial Services from 2020 to 2022, leading critical banking consolidations and promoting financial inclusion initiatives.

Board Experience and Expertise

Mr. Panda's extensive board experience includes serving as Director on the Boards of several major financial institutions. His directorship portfolio has encompassed the Reserve Bank of India, State Bank of India, Bank of Baroda, and Life Insurance Corporation of India, providing him with comprehensive understanding of India's banking and insurance sectors.

Academic and Professional Background

The appointee holds advanced degrees from prestigious institutions including Utkal University and Jawaharlal Nehru University. He has also completed studies at the Asian Institute of Management, Manila, and undertaken international training in public administration, enhancing his global perspective on financial sector governance.

Next Steps

Following the RBI approval, Bandhan Bank will place the appointment proposal before its Nomination and Remuneration Committee and the Board of Directors for consideration and approval. The bank has indicated this process will be undertaken in due course, following established corporate governance procedures.

The appointment represents a strategic addition to Bandhan Bank's leadership team, bringing regulatory expertise and extensive financial sector experience to guide the institution's continued growth and development in India's evolving banking landscape.