Bandhan Bank on Thursday said it has received approval from the Reserve Bank of India for the appointment of Partha Pratim Sengupta as the managing director and chief executive officer of the bank.

“On the basis of the recommendation of the board of directors of Bandhan Bank Limited, the Reserve Bank of India, vide its letter dated October 08, 2024, has granted its prior approval for the appointment of Partha Pratim Sengupta as managing director and chief executive officer of the bank, for a period of three years with effect from the date of taking charge, which shall not be later than November 10, 2024,” the bank said in a disclosure to the stock exchange.

Sengupta’s appointment as the MD and CEO will be placed before the nomination and remuneration committee of Bandhan Bank for consideration and approval in due course, the bank said.

“The bank has received the acceptance of Sengupta on October 09 and subsequent confirmation on October 10, 2024 that he will step down from his other engagements in compliance with the terms and conditions of the prior approval for the proposed appointment as MD & CEO of the bank,” Bandhan Bank said.

Sengupta has nearly four decades of experience in the Indian banking sector.

Between 2016 to 2018, he served as chief general manager, SBI Calcutta circle. In 2018, he was elevated to the rank of deputy managing director and chief credit officer of SBI.

He was the chairman of the corporate centre credit committee. He was also a member of the investment committee, fraud management committee, NPA management committee and operational risk and marketing risk management committees of the bank.

At SBI, he was also a permanent invitee on the board as DMD and chief credit officer of the bank.

In 2020, he was selected as MD and CEO of Indian Overseas Bank and led the bank until December 2022.

On June 19, 2023, BharatPe had said in a statement that it has appointed Sengupta as its nominee on the board of Unity Small Finance Bank where BharatPe and Centrum Financial Services are shareholders.

Earlier on October 5, Bandhan Bank had extended the term of the interim MD and CEO Ratan Kumar Kesh by one month.