Chandra Shekhar Ghosh's inspiring journey from impoverished beginnings to become the CEO and founder of Bandhan Bank is a tale of tenacity. He has announced that he will be leaving his position in July 2024, after his tenure is through. As of April 8, the Kolkata-based bank's market value was Rs 29787 crore. Ghosh will now serve in a strategic capacity for the Bandhan Group after retiring from Bandhan Bank.
Ghosh was born in 1960 into a financially precarious family in Agartala, Tripura. His family made just enough money to get by from their small candy store. Notwithstanding the difficulties, Ghosh was determined to finish his studies. Ghosh went to Bangladesh to pursue further education after completing his education. Despite having financial difficulties, he earned a degree in statistics from Dhaka University in 1978. Ghosh supported himself by teaching children while residing in an ashram.
Chandra Shekhar's life drastically changed in 1985 when he was employed by a Bangladeshi International Development Non-Profit Organisation (BRAC). Here, he witnessed directly how even small financial assistance can have a profound impact on the lives of rural village women. Ghosh decided to follow the model in India as a result of this.
Ghosh began working for the Village Welfare Society after returning to Kolkata in 1997, and he later launched his own company. With the intention of lending money to women, he founded Bandhan, a microlending organisation, in 2001. Ghosh started out small, investing a first Rs 2 lakh that he borrowed from relatives and friends.
Despite a number of challenges, including having only 12 employees, Bandhan made significant progress. Approximately 1,100 women had received loans from the company by 2002, totalling Rs 15 lakh.
In 2009, Bandhan was registered as a Non-Banking Finance Company (NBFC) by the Reserve Bank of India (RBI). Ghosh had a revolutionary effect with his vision and determination, positively impacting the lives of nearly 80 lakh women. When the RBI began accepting applications for the establishment of banks in 2013, Ghosh seized the chance to submit an application for a banking licence. Finally, in 2015, Bandhan Bank opened for business following the acquisition of a banking licence.
The bank offers banking services to 3.26 crore customers through 6,262 locations in 35 states and union territories. It is valued at a market value of Rs 28,997 crore. Many people are inspired by Ghosh's amazing journey from selling milk to becoming a wealthy CEO because it demonstrates how persistence and hard work can overcome setbacks and lead to success.
