Chandra Shekhar Ghosh’s remarkable journey from humble beginnings to becoming the CEO and founder of Bandhan Bank is a story of perseverance and vision. Recently, Ghosh announced that he will step down from his role as CEO in July 2024 when his tenure ends. Afterward, he will take on a strategic position within the Bandhan Group. As of April 8, the Kolkata-based bank held a market valuation of Rs 29,787 crore.
Born in 1960 in Agartala, Tripura, Ghosh grew up in a financially struggling family. His parents ran a modest candy shop, just enough to make ends meet. Despite these challenges, Ghosh was determined to pursue education. After completing his early studies, he moved to Bangladesh to further his education. In 1978, he earned a degree in statistics from Dhaka University, all while supporting himself by tutoring children and living in an ashram due to financial hardships.
In 1985, Ghosh's life took a pivotal turn when he joined BRAC, a renowned international development organization based in Bangladesh. It was there that he saw firsthand the transformative impact small loans had on rural women, which inspired him to bring a similar model to India.
Returning to Kolkata in 1997, Ghosh began working with the Village Welfare Society before deciding to create his own venture. In 2001, he founded Bandhan, a microlending organization aimed at providing loans to women. Starting with just Rs 2 lakh that he borrowed from family and friends, Ghosh launched Bandhan with a small team of 12 employees. By 2002, the organization had disbursed loans totaling Rs 15 lakh to approximately 1,100 women.
The organization grew rapidly, and in 2009, Bandhan was registered as a Non-Banking Financial Company (NBFC) by the Reserve Bank of India (RBI). Ghosh’s vision touched the lives of nearly 80 lakh women through financial empowerment. In 2013, when the RBI invited applications for new banking licenses, Ghosh seized the opportunity and applied. Two years later, in 2015, Bandhan Bank officially commenced operations.
Today, Bandhan Bank serves 3.26 crore customers through 6,262 locations across 35 states and union territories, boasting a market valuation of Rs 28,997 crore. Ghosh’s incredible rise—from a boy helping in his family’s candy shop to the CEO of a major bank—demonstrates how persistence, hard work, and a vision for change can lead to extraordinary success.
