# Bandhan Bank / mBandhan

> Source: https://docs.barcoder.ai/docs/wallets/bandhan-bank
> research date 2026-05-30 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Bandhan Bank — official](https://www.bandhanbank.com/)

## Overview

**Bandhan Bank** is **an Indian commercial bank with distinctive microfinance-to-bank conversion heritage** + **Kolkata West Bengal HQ** <sup>[1][1], [2][2], [India report](https://docs.barcoder.ai/docs/payments/IN)</sup>. **2025 baseline**: 10M+ Indian customers (individuals + households); mBandhan mobile banking app with 200+ features; distinctive Bandhan microfinance-to-bank conversion heritage (2001 founding as microfinance company + 2010 India's largest microfinance institution (MFI) + 2015 RBI fully-fledged bank license).

**Distinctive Bandhan Bank positioning** <sup>[1][1], [2][2], [3][3]</sup>:
- **Indian commercial bank with distinctive microfinance-to-bank conversion heritage**
- **Kolkata West Bengal HQ** — distinctive Indian Eastern India banking heritage (rare for Indian commercial bank)
- **10M+ Indian customers** (individuals + households)
- **2001 founding as microfinance company by Chandra Shekhar Ghosh** + **2010 India's largest microfinance institution (MFI)** + **2015 RBI fully-fledged bank license** — distinctive Indian microfinance-to-bank conversion
- **mBandhan mobile banking app with 200+ features** — distinctive Indian microfinance-to-bank converted commercial banking app
- **Strong brand presence in Indian microfinance + microloan space** — distinctive Bandhan Bank product portfolio (personal loans + microloans + Subriddhi micro top-up loan)
- **2019 GRUH Finance Limited (HDFC subsidiary) reverse merger** — distinctive Indian housing finance + microfinance banking consolidation

## History

**2001 — Bandhan Financial Services founded by Chandra Shekhar Ghosh** in Kolkata, India — distinctive Indian microfinance heritage.

**2010 — Bandhan becomes India's largest microfinance institution (MFI)** — distinctive Indian microfinance scale leadership.

**Apr 2 2014 — Bandhan Bank receives RBI in-principle approval for banking license**.

**Aug 23 2015 — Bandhan Bank starts banking operations** as fully-fledged commercial bank → distinctive Indian first NBFC-MFI-to-bank conversion.

**Mar 27 2018 — Bandhan Bank IPO on NSE + BSE**.

**Oct 17 2019 — Bandhan Bank + GRUH Finance Limited (HDFC subsidiary) reverse merger** — distinctive Indian housing finance + microfinance banking consolidation.

**2025**: 10M+ Bandhan Bank Indian customers + mBandhan mobile banking app with 200+ features <sup>[1][1], [2][2], [3][3]</sup>.

## Ownership & operator

**Operating entity**: **Bandhan Bank Limited** (NSE: BANDHANBNK; BSE: 541153).

**Major shareholders**: **Bandhan Financial Holdings Limited (founders' holding company; ~40%) + IFC International Finance Corporation (formerly significant; post-IPO reduction) + Caladium Investment Pte Ltd (GIC Singapore sovereign wealth fund) + Singapore Sovereign Wealth Fund GIC + foreign + Indian institutional + Indian retail public float**.

**Regulator**: **RBI (Reserve Bank of India)**.

## Technical integration

**mBandhan mobile banking app (iOS + Android; 200+ features)** + bandhanbank.com online + Bandhan Bank cards (Visa + Mastercard + RuPay) + Bandhan Bank branch network (Eastern India + pan-India); UPI + Bharat QR + IMPS + NEFT + RTGS; **Bandhan Bank microloan distinctive product portfolio**: Bandhan Subriddhi micro top-up loan + Bandhan microloans + Bandhan Suchana microloan + Bandhan Microfinance pan-India Indian microfinance ecosystem.

## Users & growth

**2025**: 10M+ Bandhan Bank Indian customers (individuals + households).

## Use cases

Indian retail + microfinance + microloan + SME + investment banking via mBandhan + bandhanbank.com online + cards + branches; UPI + Bharat QR + IMPS + NEFT + RTGS; **Bandhan Bank microloan distinctive product portfolio**: Bandhan Subriddhi micro top-up loan + Bandhan microloans + Bandhan Suchana microloan + Bandhan Microfinance pan-India Indian microfinance ecosystem.

## Implementations & partners

**Operator**: Bandhan Bank Limited (NSE: BANDHANBNK; BSE: 541153); Bandhan Financial Holdings Limited (founders' holding company) + IFC + Caladium Investment Pte Ltd (GIC Singapore sovereign wealth fund).

**Subsidiaries**: **Bandhan Microfinance** (pan-India Indian microfinance ecosystem) + **GRUH Finance (post-Oct 17 2019 HDFC subsidiary reverse merger; integrated; Indian housing finance)**.

**Major Indian banking competitors**: [HDFC Bank App](https://docs.barcoder.ai/docs/wallets/hdfc-bank) (India #1 private; 2023 HDFC Limited reverse merger) + [ICICI Bank](https://docs.barcoder.ai/docs/wallets/icici-bank) (India #2 private; iMobile Pay) + [Axis Bank / Axis Mobile](https://docs.barcoder.ai/docs/wallets/axis-bank) (India #3 private; 5,876 branches + 14M Axis Mobile MAU + 2025 Citibank India retail migration completion) + [Kotak Mahindra Bank / Kotak811](https://docs.barcoder.ai/docs/wallets/kotak-mahindra) (India #4 private; Kotak811 = 3rd most-downloaded banking app worldwide H1 2025; SMBC strategic) + [SBI YONO (State Bank of India)](https://docs.barcoder.ai/docs/wallets/sbi-yono) (India #1 by assets state-controlled; YONO 70M+ MAU) + Indian small finance banks + Indian payments banks (Airtel Payments Bank + Paytm Payments Bank + India Post Payments Bank).

**Regulator**: RBI.

## Fun facts

- **Indian commercial bank with distinctive microfinance-to-bank conversion heritage**.
- **Kolkata West Bengal HQ** — distinctive Indian Eastern India banking heritage (rare for Indian commercial bank).
- **10M+ Indian customers** (individuals + households).
- **2001 founding as microfinance company by Chandra Shekhar Ghosh** + **2010 India's largest microfinance institution (MFI)** + **2015 RBI fully-fledged bank license** — distinctive Indian microfinance-to-bank conversion.
- **mBandhan mobile banking app with 200+ features** — distinctive Indian microfinance-to-bank converted commercial banking app.
- **Strong brand presence in Indian microfinance + microloan space** — distinctive Bandhan Bank product portfolio.
- **Oct 17 2019 Bandhan Bank + GRUH Finance Limited (HDFC subsidiary) reverse merger** — distinctive Indian housing finance + microfinance banking consolidation.

## Comparison

| Feature | Bandhan Bank / mBandhan | [HDFC Bank App](https://docs.barcoder.ai/docs/wallets/hdfc-bank) (India #1 private rival) | [ICICI Bank](https://docs.barcoder.ai/docs/wallets/icici-bank) (India #2 private + iMobile Pay rival) | [Axis Bank / Axis Mobile](https://docs.barcoder.ai/docs/wallets/axis-bank) (India #3 private + 14M Axis Mobile MAU rival) | [Kotak Mahindra Bank / Kotak811](https://docs.barcoder.ai/docs/wallets/kotak-mahindra) (India #4 private + Kotak811 = 3rd most-downloaded banking app worldwide H1 2025 rival) |
|---|---|---|---|---|---|
| Operator | **Bandhan Bank Limited (NSE: BANDHANBNK; BSE: 541153)** | HDFC Bank Limited (NSE: HDFCBANK) post-Jul 2023 HDFC Limited reverse merger | ICICI Bank Limited (NSE: ICICIBANK) | Axis Bank Limited (NSE: AXISBANK) | Kotak Mahindra Bank Limited (NSE: KOTAKBANK) |
| Type | **Indian commercial bank with distinctive microfinance-to-bank conversion heritage + Kolkata West Bengal HQ + 10M+ Indian customers + 2001 microfinance company founding + 2010 India's largest MFI + 2015 RBI fully-fledged bank license + 2019 GRUH Finance reverse merger** | India #1 private + 7,000+ branches + 25M+ HDFC Bank app users + 2023 HDFC Limited reverse merger | India #2 private + iMobile Pay 35M+ MAU + Apple Pay India launch partner | India #3 private + 5,876 branches + Axis Mobile 14M MAU + 2025 Citibank India retail migration completion | India #4 private + Kotak811 = 3rd most-downloaded banking app worldwide H1 2025 + Indian NBFC-to-bank conversion heritage |
| Country | IN | IN + 4+ countries | IN + 18+ countries | IN + 6+ countries | IN + 5+ countries |
| Distinctive | **2001 Bandhan Financial Services founding by Chandra Shekhar Ghosh in Kolkata; 2010 India's largest MFI; Aug 23 2015 Bandhan Bank starts banking operations (Indian first NBFC-MFI-to-bank conversion); Mar 27 2018 NSE + BSE IPO; Oct 17 2019 GRUH Finance Limited (HDFC subsidiary) reverse merger; mBandhan app with 200+ features; Bandhan Subriddhi micro top-up loan + Bandhan Microfinance pan-India ecosystem** | 1994 founding; HDFC Limited 2023 reverse merger created India's #1 private bank | 1955 ICICI founding; 1994 ICICI Bank founding | 1993 UTI Bank founding + 2007 Axis Bank renaming; 2022 Citibank India retail business USD 1.6B acquisition | 1985 Kotak Mahindra Finance Limited founding by Uday Kotak; 2003 RBI bank licensing (Indian first NBFC-to-bank conversion); 2015 ING Vysya Bank merger |

## Status

**Active, Indian commercial bank with distinctive microfinance-to-bank conversion heritage + Kolkata West Bengal HQ** <sup>[1][1], [2][2], [3][3]</sup>:
- **Bandhan Bank Limited (NSE: BANDHANBNK; BSE: 541153)** since 2001 Bandhan Financial Services founding by Chandra Shekhar Ghosh in Kolkata + 2010 India's largest MFI + Aug 23 2015 Bandhan Bank banking operations start (Indian first NBFC-MFI-to-bank conversion).
- **10M+ Bandhan Bank Indian customers + mBandhan mobile banking app with 200+ features**.
- **Oct 17 2019 GRUH Finance Limited (HDFC subsidiary) reverse merger**.
- **RBI regulated**.

## Sources

[1]: https://en.wikipedia.org/wiki/Bandhan_Bank "Bandhan Bank — Wikipedia"
[2]: https://www.bandhanbank.com/ "Bandhan Bank — official"
[3]: https://www.wishfin.com/banking/bandhan-bank-mobile-banking-9511/ "Bandhan Bank Mobile Banking — Wishfin"
[in-cro]: https://docs.barcoder.ai/docs/payments/IN

- [1] [Bandhan Bank — Wikipedia][1]
- [2] [Bandhan Bank — official][2]
- [3] [Bandhan Bank Mobile Banking — Wishfin][3]
- <sup>[India report](https://docs.barcoder.ai/docs/payments/IN)</sup> In-corpus: `reports/countries/IN-india.md`

## Source

Biography extracted from [bandhan-bank.md](https://docs.barcoder.ai/source/wallets/bandhan-bank). See `matrix.md` for standards-support matrix if present.