NEW DELHI: Bandhan Bank hit Rs 1 lakh crore in market cap on the BSE on Wednesday thanks to its merger with Gruh Finance The scrip hit the day's high of Rs 623.70.The private lender listed 41.69 crore new shares for trading on the exchange which lifted its market cap to Rs 1 lakh crore mark from Rs 74,390 crore on Tuesday.The stock saw a spurt in traded volume by 3.85 times.Bandhan Bank merged with Gruh Finance to decrease the promoter shareholding in the bank to comply with the RBI guidelines. The merger brought down promoter shareholding to 61 per cent from 82.28 per cent earlier, but failed to meet the central bank's guidelines.As per guidelines, it was supposed to bring the promoter shareholding to 40 per cent by now. Hence, RBI slapped Rs 1 crore fine on the bank on Tuesday.A show cause notice was issued to the bank by RBI asking why penalty should not be imposed for non-compliance with the said licensing guidelines.“After considering the reply received from the bank, submissions made by the bank during the personal hearing and the documents submitted by it, RBI came to the conclusion that the bank had failed to comply with the licensing guidelines read with the licensing conditions imposed by RBI and decided to impose a monetary penalty on the bank,” the central bank said in a release.The shares of the lender closed 1.47 per cent lower at Rs 614.35 on BSE.