Madison Media wins Bandhan Bank account

By afaqs! news bureau , afaqs!, Mumbai | In Media Planning & Buying
Last updated : March 09, 2015
The proposed bank has got an in-principle nod from RBI.

Madison Media has won the mandate for the proposed Bandhan Bank in Kolkata.

Sam Balsara

Bandhan has got an in-principle approval from the Reserve Bank of India to start banking operations. As a bank, it will have pan-India operations and meet the credit needs of different types of customers, even offering various savings products.

Sam Balsara, CMD, Madison World, says, "Bandhan's 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."

The microfinance entity, Bandhan Financial Services, was set up in 2001 to address the dual objective of poverty alleviation and women empowerment. Currently, it operates in 22 Indian states through more than 2000 branches, run by 14,000 employees. It has a borrower base of 6.5 million.

CS Ghosh, chairman and managing director, Bandhan, says, "As we embark on this new journey, we need to reach out to new consumers across Indian states, and we are confident that Madison will help us achieve our objective."

Madison Media was in the news recently for handling the media mandate for BJP during the national elections and during Maharashtra, Haryana, Jammu & Kashmir and the current Delhi election. It has recently won a host of new accounts such as Viber, Lenskart, Amul Hosiery, Metro Cash & Carry, DHFL and

Madison Media Group has a plethora of blue chip clients including Godrej, Mondelez (formerly Cadbury), ITC, Marico, McDonald's, TVS, Raymond, Piramal Healthcare, Levi's, SpiceJet, Domino's, Bharti AXA, Max Life Insurance, Asian Paints, Pidilite, Tata Salt, Acer, Crompton Greaves, Times Television Network, Indian Oil, Enamor Lingerie, Gowardhan Dairy, HomeShop18, Café Coffee Day, among others. The gross billing of Madison Media Group is close to Rs. 3,000 crores.

First Published : March 09, 2015

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