Bandhan Financial Services, a microfinance entity, recently got an in-principle approval from the Reserve Bank of India to start its banking operations
BestMediaInfo Bureau | Mumbai | March 10, 2015
Madison Media has won the mandate for the proposed Bandhan Bank in Kolkata.
Bandhan Financial Services, a microfinance entity, was set up in 2001 to address the dual objective of poverty alleviation and women empowerment. Bandhan has been the talk of the banking and financing community, having got an in-principle approval from the Reserve Bank of India to start banking operations. Currently, it operates in 22 Indian states through more than 2,000 branches, run by 14,000 employees. It has a borrower base of 6.5 million. As a bank, it will have pan-India operations and meet the credit needs of different types of customers even as it offers various savings products.
Commenting on this development, CS Ghosh, Chairman and Managing Director, Bandhan, said, âAs we embark on this new journey, we need to reach out to new consumer across Indian states, and we are confident that Madison will help us achieve our objective.â
Sam Balsara, CMD, Madison World, added here, âBandhanâs accomplishments are truly remarkable and we are delighted to partner them in this exciting new phase in their life, which will make them play an even more meaningful role in the Indian financial sector, changing lives of many millions.â
Madison Media was in the news recently for handling the media mandate for the BJP for the Lok Sabha Elections as well as for the Maharashtra, Haryana, Jammu & Kashmir and Delhi Assembly Elections. It has recently won a host of new accounts like Viber, Lenskart, Amul Hosiery, Metro Cash & Carry, DHFL and Gaana.com.
Madison Media Groupâs client roster includes Godrej, Mondelez (formerly Cadbury), ITC, Marico, McDonaldâs, TVS, Raymond, Piramal Healthcare, Levis, SpiceJet, Dominoâs, Bharti AXA, Max Life Insurance, Asian Paints, Pidilite, Tata Salt, Acer, Crompton Greaves, Times Television Network, Indian Oil, Enamor Lingerie, Gowardhan Dairy, HomeShop 18, and CafĂ© Coffee Day, among others. The gross billing of Madison Media Group is about Rs 3,000 crore.