How Chandra Shekhar Ghosh, The Son Of A Sweet Shop Owner, Became The Bandhan Bank CEO

Chandra Shekhar Ghosh’s journey from humble beginnings to the founder and CEO of Bandhan Bank is an inspiring tale of determination. Born into a financially struggling family in Agartala, Tripura in 1960, Ghosh faced hardships from a young age. His family’s small sweet shop barely provided enough income to make ends meet. Despite the challenges, Ghosh was determined to pursue his education.

After completing his schooling, Ghosh travelled to Bangladesh to pursue higher studies. Despite financial constraints, he graduated in Statistics from Dhaka University in 1978. To support himself, Ghosh gave tuition to children while living in an ashram.

In 1985, Chandra Shekhar’s life took a significant turn when he secured a job with an International Development Non-Profit Organisation (BRAC) in Dhaka. It was here that he witnessed the transformative impact of small financial assistance on women in rural villages. Inspired by this, Ghosh resolved to replicate the model in India.

Returning to Kolkata in 1997, Ghosh began working for the Village Welfare Society before embarking on his entrepreneurial journey. In 2001, he founded Bandhan, a microfinance company aimed at providing loans to women. With an initial investment of Rs 2 lakh borrowed from family and friends, Ghosh started small. Despite facing numerous challenges, including having just 12 employees, Bandhan made significant strides. By 2002, the company had distributed loans worth Rs 15 lakh to approximately 1,100 women.

In 2009, Bandhan was registered as a Non-Banking Finance Company (NBFC) by the Reserve Bank of India (RBI). Ghosh’s vision and dedication had a transformative impact, positively affecting the lives of around 80 lakh women. When RBI invited applications for setting up banks in 2013, Ghosh seized the opportunity and applied for a banking license. Finally, in 2015, Bandhan Bank commenced operations after receiving the banking license.

With a market capitalisation of Rs 28,997 crore, the bank serves 3.26 crore customers through 6,262 banking outlets across 35 states and union territories. Ghosh’s remarkable journey from selling milk to becoming a billionaire CEO serves as an inspiration to many, highlighting the power of determination and hard work in overcoming adversity and achieving success.