Moira's son from Tripura owns a bank worth "29 thousand crores of rupees", studied in Dhaka University

Moira's son from Tripura owns a bank worth "29 thousand crores of rupees", studied in Dhaka University

Staff Correspondent, morenewsbd.com
Staff Correspondent, morenewsbd.com

Published: 06:13 6 October 2024

Founder CEO of 'Bandhan Bank'. The story of Chandra Shekhar Ghosh's remarkable journey is one of sheer perseverance and foresight, starting from almost nothing. Recently, he resigned from the post of CEO last July. As of April 8, the market value of this Kolkata-based bank was Rs 29,787 crore.

Chandra Shekhar was born in Agartala, the capital of the Indian state of Tripura. He was born in 1960. Parents ran a simple sweet shop. He grew up in financial trouble. Father's small income never brought prosperity to the family. Despite various challenges, Chandra Shekhar was determined to study. He came to Bangladesh after completing his primary education. Degree in Statistics from Dhaka University in 1978. Due to financial hardship, he tried to earn some money. Taught children, stayed in ashram.

In 1985, life took a turn. Chandra Shekhar joined BRAC, the famous international development organization of Bangladesh. He has seen with his own eyes the transformative impact of microcredit among rural women in this country. The inspiration to launch a similar model of social business in India came from Bangladesh.

He returned to Kolkata in 1997 and started working with the Village Welfare Society. In 2001, he established Bandhan, a microcredit organization aimed at providing credit to women. He started this venture with just two lakh rupees borrowed from family and friends. Bandhan traveled with a team of only 12 employees. By the year 2002, the organization distributed loans of 1.5 million rupees to about 1,100 women.

The company continued to grow rapidly. Bandhan was registered as a non-banking financial institution (NBFC) with the Reserve Bank of India (RBI) in 2009.

Chandra Shekhar Ghosh's initiative changed the lives of nearly 8 million women through economic empowerment. In 2013, when the RBI called for applications for a new banking license, Chandra Shekhar Ghosh seized the opportunity and applied. After two years, Bandhan Bank officially started operations in 2015.

Currently Bandhan Bank has 3 crore 26 lakh customers. Serves 6,262 areas across 35 states and union territories. Now the market value of this bank is 28 thousand 997 crore rupees.

This incredible rise of Chandra Shekhar can be an inspiration for anyone. The boy who once helped in his family's sweet shop, one day became the CEO of a major bank. Changed many people's lives.

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