Chandra Shekhar Ghosh’s journey from humble beginnings to becoming the CEO and founder of Bandhan Bank is a story of remarkable tenacity and resilience. After a fulfilling tenure, he has announced his departure from the position in July 2024. As of April 8th, the Kolkata-based bank held a market value of Rs 29787 crore. Following his retirement from Bandhan Bank, Ghosh will transition to a strategic role within the Bandhan Group.
Ghosh was born in 1960 into a financially challenged family in Agartala, Tripura. Their modest candy store barely provided enough income to make ends meet. Despite the hardships, Ghosh’s determination to pursue education remained unwavering. He moved to Bangladesh to further his studies, completing his education at Dhaka University in 1978, earning a degree in statistics. The financial constraints he faced were met with resourcefulness, as he supported himself by teaching children while residing in an ashram.
A turning point in Chandra Shekhar’s life occurred in 1985 when he joined a Bangladeshi International Development Non-Profit Organisation (BRAC). His experience here unveiled the profound impact that even small financial assistance could have on the lives of rural women. This exposure ignited a desire to replicate the model in India.
Upon his return to Kolkata in 1997, Ghosh began working for the Village Welfare Society, eventually venturing out to establish his own enterprise. In 2001, he founded Bandhan, a micro-lending organization dedicated to providing financial services to women. Starting with a modest investment of Rs 2 lakh, borrowed from family and friends, Ghosh embarked on a journey that, despite numerous challenges, ultimately led to transformative success.
With a team of just 12 employees, Bandhan made steady progress. By 2002, approximately 1,100 women had received loans from the company, totaling Rs 15 lakh. In 2009, Bandhan received recognition as a Non-Banking Finance Company (NBFC) by the Reserve Bank of India (RBI).
Ghosh’s vision and determination had a revolutionary impact, positively influencing the lives of nearly 80 lakh women. Recognizing the opportunity to further expand his vision, Ghosh applied for a banking license when the RBI opened the door for new banks in 2013. This bold move culminated in 2015, when Bandhan Bank officially commenced operations after acquiring a banking license.
Today, the bank serves 3.26 crore customers through 6,262 locations across 35 states and union territories. Its market value stands at Rs 28,997 crore.
Chandra Shekhar Ghosh’s remarkable journey, from selling milk to becoming a wealthy CEO, serves as a powerful inspiration. It exemplifies the transformative power of perseverance, hard work, and a relentless pursuit of a vision. His story resonates with individuals from all walks of life, reminding them that with determination and dedication, even the most daunting obstacles can be overcome.
