Bandhan Financial Services, the first new commercial bank in India in over a decade, has started banking operations with 501 branches.
Out of the bank’s 501 branches, 229 are located in rural areas whereas 179 are located in unbanked areas.
Majority of the branches (220) are located in West Bengal, followed by Bihar (67), Assam (60), Maharashtra (21), Uttar Pradesh and Tripura (20 each), along with Jharkhand (15).
The bank, which began as a not-for-profit micro-finance enterprise in 2001, is currently operating under two units- the micro banking and general banking.
At the same time, it is also offering complete retail financial solutions such as savings and loan products.
As of now, it has 14.3 million accounts, a loan book of nearly INR105bn, a capital of INR25.7bn, and a workforce of about 19,500.
In addition, the bank, which currently also has 2022 service centres and 50 ATMs, has unveiled plans to increase the branch count to 632 and ATM count to 250 across 27 states by the end of fiscal year 2016.
Bandhan Bank founder, managing director and CEO Chandra Shekhar Ghosh said: "Our business philosophy is customer first. We are a universal bank and we will have equal respect for all our customers — big and small.
"Today, all of us in the Bandhan family are rededicating ourselves to fulfil the demand of every Indian — banking as a fundamental right. We are committed to usher in a new era in Indian banking."