When was Bandhan Bank formed?

Correct option is D

The correct answer is (D) 2015.

·         Bandhan Bank was formed and officially commenced operations as a full-fledged scheduled commercial bank on August 23, 2015.

·         It was previously a microfinance institution and received approval from the Reserve Bank of India (RBI) to transform into a bank in 2014.

Key Details:

• Founded: The foundation of Bandhan Bank is rooted in Bandhan Financial Services Limited, established in 2001 as a microfinance company.
• Transformation:
• In 2014, Bandhan received a banking license from RBI along with IDFC.
• By 2015, it launched operations as a commercial bank.
• Headquarters: Kolkata, West Bengal.
• Focus Areas:
• Banking services to underserved and unbanked populations.
• Strong emphasis on financial inclusion.