One of India's newer generation of billionaires is Sanjay Agarwal. Agarwal, a self-made business magnate who turned his company from a little finance company to a full-fledged bank in just 20 years, is currently among the richest people from Rajasthan.
Sanjay entered the business world shortly after graduating from college and built a reliable company that eventually became a listed financial institution with a market value of Rs Rs 49,698 crore, as reported by News 18. At AU Small Finance Bank, Sanjay Agarwal serves as both the CEO and Managing Director.
A child who could not make it through class 8 gave up on his goal of playing cricket to become a financial professional. Sanay's father, an engineer with the Rajasthan State Electricity Board, gave birth to her. He changed from studying Hindi to English after failing class 8 in an attempt to improve his situation.
Following his graduation from Government College, Ajmer, he pursued a career in chartered accounting. Sanjay joined a firm of CPAs and tried to study for the test. He previously informed the Times of India that he had failed twice and had experienced a mental breakdown.
After passing the CA exam, Sanjay was offered a position in Mumbai, but he chose to remain in Jaipur and launch his own company. A 25-year-old Sanjay persuaded nearby businesspeople to invest in a finance company despite having no money.
He would loan cars and get paid a nominal charge in exchange. He gradually increased his interests and acquired companies such as a granite mill and a truck firm. But about 2000, he made the decision to concentrate only on money. Several significant milestones were a 2002 collaboration with HDFC and a 2009 capital round from Motilal Oswal.
In 2017, Sanjay Agarwal effectively transformed his company into AU Small Finance Bank, having started it without any funding two decades prior. Today, the AU Small Finance Bank, based in Jaipur, serves over 30 lakh consumers through more than 1,000 locations nationwide. In 2023, Sanjay Agarwal's net worth was estimated to be more than Rs 10026 crore ($1.2 billion).
