Kolkata-based Bandhan Bank, set to start operations in August, announced on Thursday its new board of directors. It also unveiled the new logo – an image of the ‘diya’ – designed by Ogilvy and Mather.

The bank will be inaugurated by President Pranab Mukherjee.

Board of Directors Ashok Kumar Lahiri, a former Chief Economic Advisor to the Centre, will be the Chairman, while Chandra Shekhar Ghosh will be the MD and CEO of the bank. Both appointments are subject to Reserve Bank of India approval.

The other directors include B Sambamurthy, former CMD of Corporation Bank; CM Dixit, Senior Partner at GD Apte & Co; Krishnamurthy Subramanian, Associate Professor at the Indian School of Business; Snehomoy Bhattacharya, former ED of Axis Bank; Pradip Kumar Saha, former CGM at SIDBI; Sisir Kumar Chakrabarti, former Dy MD of Axis Bank; Bhaskar Sen, former CMD of UBI and PS Raji Gain, CGM, Nabard. Representatives from the International Finance Corporation (IFC), a member of the World Bank Group, and Singapore’s sovereign wealth fund GIC may also join the bank’s board. GIC, IFC and State-run SIDBI have recently invested over ₹1,000 crore in Bandhan. Another round of funding of ₹500 crore is expected from GIC and IFC in August.

Operations According to MD and CEO, CS Ghosh, Bandhan Bank will have 630 branches across 27 States. Nearly 247 of these new branches are expected to be in West Bengal.

The bank will have two distinct wings. One will cater to the micro-banking segment, targeting the rural and un-banked areas. The other will look at general banking.

“Some 500-odd branches are expected to be operational around the launch date itself,” he told reporters during the conference.

According to Ghosh, the bank will target a growth of 20-30 per cent, every year for the next three years.

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