Business Success Story: How A Sweet Shop Owner's Son Became CEO of Rs 29,787 Crore Company? Journey of Chandra Shekhar Ghosh
Chandra Shekhar Ghosh's story is a testament to perseverance and success. His journey from a humble sweet shop to becoming the CEO of a Rs 29,787 crore company is truly inspiring. Ghosh has announced that he will resign from his position in July 2024 and will contribute to the strategic affairs of the Bandhan Group.
Born in 1960 in a poor family in Agartala, Tripura, Ghosh's family's income came from a small sweet shop. Despite financial constraints, Ghosh was determined to complete his education. He earned a degree in Statistics from Dhaka University in 1978. To support himself, he gave tuitions to children and lived in an ashram.
Turning Point
In 1985, Ghosh's life took a significant turn when he got a job at BRAC, an international development non-profit organization in Bangladesh. There, he witnessed how small financial aids could bring about significant changes in the lives of rural women. This experience inspired him to replicate the model in India.
Founding Bandhan
Returning to Kolkata in 1997, Ghosh worked for a welfare society and later started his own company. In 2001, he founded Bandhan, a microfinance institution aimed at providing loans to women. He started with a borrowed sum of Rs 2 lakh from relatives and friends.
Despite initial challenges, Bandhan rapidly progressed. By 2002, the organization had provided loans worth Rs 15 lakh to approximately 1,100 women. In 2009, Bandhan was registered as a non-banking financial company (NBFC) by the Reserve Bank of India. Ghosh's vision and hard work improved the lives of nearly 80 lakh women.
Becoming a Bank
In 2013, when the Reserve Bank of India invited applications for setting up banks, Ghosh applied for Bandhan Bank. The bank was inaugurated in 2015. Today, Bandhan Bank operates across 35 states and union territories with 6,262 branches, serving 3.26 crore customers, and has a market value of Rs 28,997 crore.
Legacy of Inspiration
Chandra Shekhar Ghosh's journey teaches us that determination and hard work can overcome any obstacle and lead to remarkable success. His story is a source of inspiration for many, proving that with perseverance, one can achieve greatness.
