Dhanlaxmi Bank gets RBI nod for opening 20 new branches; Stock rises

1 Apr 2022 , 11:20 AM

Dhanlaxmi Bank has received ‘in-principle’ approval from Reserve Bank of India for opening of 20 new branches and one administrative office on Thursday.

As part of its expansion plans, the Bank is planning to open 7 branches in Kerala, 4 branches in Tamil Nadu, 1 branch in Pondicherry, 3 branches in Karnataka, 3 branches in Andhra Pradesh and 2 branches in Telangana during the FY 2022-23. Further, the new administrative office has started functioning at Hyderabad, said Bank in a regulatory filing.

On Friday at around 11:23 AM, Dhanlaxmi Bank was trading at Rs12.49 apiece up by Rs0.1 or 0.81% on the BSE.