Welcome to Bandhan Financial Services Limited (BFSL) - Its Evolution
Bandhan Financial Services Limited (BFSL) is the promoter of Bandhan Financial Holdings Limited (BFHL) and Bandhan Bank Limited. BFSL was incorporated on August 3, 1995, and registered with the Reserve Bank of India (RBI) as an NBFC-MFI. It began engaging in microfinance activities in 2009. Subsequently, following RBI's issuance of a banking license to Bandhan Bank in June 2015, BFSL transferred all assets and liabilities of its microfinance business to Bandhan Bank in August 2015, in accordance with the Guidelines for Licensing of New Banks in the Private Sector issued by the RBI on February 22, 2013.
Before the 2015 business transfer, BFSL also provided support services, including insurance (in collaboration with LIC), remittance (with Western Union), and pension services (in association with PFRDA, Ministry of Finance, Government of India) until August 2015. After transferring its operations to Bandhan Bank, BFSL ceased business activities and registered with the RBI as an NBFC-CIC-ND-SI in September 2017 under registration number B-05.05841.
Currently, Bandhan Financial Services Limited's (BFSL) sole business is managing investments. Bandhan Financial Holdings Limited (BFHL) is a wholly owned subsidiary of BFSL.
