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Bandhan Bank down 20% as it considers options to cut promoter stake

Kolkata-headquartered Bandhan Bank’s stock plummeted 19% after it announced its intention of exploring “inorganic opportunities” to slash promoter stake to 40% as directed by the RBI. According to licensing norms, a non-operating financial holding company (NOFHC) is allowed to pursue non-banking financial services business for three years…