Bandhan Bank stock falls 20% after RBI stops branch addition

Bandhan Bank shares fell 20% to a record low on Monday after RBI barred the bank from opening new branches and froze CEO Chandra Shekhar Ghosh's salary at the current level. This eroded nearly ₹13,500 crore of the bank's market value. RBI's action came after the lender failed to reduce promoter shareholding to 40% within three years of commencing operations.