Success Story of Chandrasekhar Ghosh who sold milk later became owner of Bandhan bank
By Lokmat English Desk | Published: October 21, 2021 02:47 PM2021-10-21T14:47:17+5:302021-10-21T14:47:17+5:30
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A milkman became the owner of the bank and reached the pinnacle of success. Chandrasekhar Ghosh, the owner of Bandhan Bank, was living a normal life.
Chandrasekhar did not have money for education. He then completed his own education by teaching children. He then developed a sense of helping women and laid the foundation of Bandhan Bank. He is today the man running the show for a bank with a valuation in excess of Rs 30,000 crore.
To make ends meet, Chandra Shekhar Ghosh had to sell milk during his early years. Son of a small sweets shop owner, Ghosh hails from Tripura.
To fund studies, he gave tuitions to children. While supporting his father at his shop, Ghosh completed his Master’s degree in Statistics from Dhaka University.
The young Chandra Shekhar Ghosh then took a job that paid a meagre salary of Rs 5000. He kept up with the job for many years in order to sustain his family.
But then he finally decided to break free and do something different by late 1990s. He was appointed the program head at a village welfare society in Bangladesh working towards women empowerment.
It was here that he got the idea to support enterprising women and started a microfinance unit to give small loans to them in 2001.
Slowly and steadily, the institution grew and Ghosh eventually launched Bandhan financial services in 2015.
Today, Bandhan Bank has more than 5,500 banking outlets and is operational in 34 out of the 36 Indian states and union territories with over 2.35 crore customers.
Bandhan Bank, a micro-institution, was allowed by the Reserve Bank of India to operate as a commercial bank. Today, the bank provides loans of Rs 2 lakh to women in West Bengal on their own.
Only women have membership in this bank and recovery rate is 100%. In 2011, International Finance Corporation, a subsidiary of the World Bank, invested Rs 135 crore in Bandhan Bank. Bandhan Bank provides financial assistance to many women.
