Chandra Shekhar Ghosh had to face challenging financial circumstances in order to rise to the position of managing director of Bandhan Bank.
Chandra Shekhar Ghosh’s story is incredibly inspiring as it chronicles his journey from earning a meager salary of Rs 5,000 per month to becoming the founder of a financial institution with a net profit of Rs 290 crore. The remarkable history of Bandhan Bank, which started as a non-profit organization focused on empowering women through financial stability, is truly fascinating.
Chandra Shekhar Ghosh’s journey to becoming the managing director of Bandhan Bank was marked by difficult financial conditions. Despite starting out with limited financial means, Ghosh persevered and founded a financial company that earned a net profit of Rs 290 crore. Today, Bandhan Bank is valued at over Rs 30,000 crore (as of 2021) and Ghosh’s inspiring story is a testament to his determination and hard work.
According to the annual report of a private bank based in Kolkata, it declared a net profit of Rs. 290.6 crore in the last financial year. In the fiscal year 2019-20, Chandra Shekhar Ghosh, the managing director of the bank, earned a salary of Rs. 2.10 crore.
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Who is Chandra Shekhar Ghosh?
Chandra Shekhar Ghosh, a native of Tripura, grew up as the son of a small sweets shop owner. To support his education, he provided tuition to children. While working with his father at the shop, he obtained his Master’s degree in Statistics from Dhaka University. During his early years, Ghosh had to sell milk to make a living.
Chandra Shekhar Ghosh took up a job that paid a meager salary of Rs 5000 when he was young, in order to support his family. He continued working there for several years but by the late 1990s, he made the decision to break free and explore new opportunities.
After working in various roles, Chandra Shekhar Ghosh was selected as the program director for a welfare organization in Bangladesh that focused on promoting women’s empowerment. It was during this time that he was inspired to establish a microfinance unit in 2001 that offered small loans to women entrepreneurs.
Over time, the microfinance unit grew and in 2015, Ghosh transformed it into a full-fledged bank, Bandhan Bank. Today, Bandhan Bank has over 235 million customers and operates in 34 different locations across India.