Section 36
Chandra Shekhar Ghosh
Bandhan Bank · Agartala, Tripura
- ₹2 lakh
- Own savings used to start · 2001
- 772
- Branches · 2017
- Nearly 1 crore
- Customers · 2017
The story
Chandra Shekhar Ghosh was born in Agartala, Tripura, in 1960. He has described a tough childhood: his father supported the family from a small sweet shop, and he helped out in it. His father was determined to educate him, and he completed a master's degree in statistics at Dhaka University.
He then worked for BRAC, the development organisation in Bangladesh, and later for NGOs in India. On village visits in West Bengal he saw small vendors borrowing ₹500 for half a day and paying ₹5 in interest to moneylenders. He wanted to give them fairer loans.
In 2001 he started Bandhan as an NGO with his savings of ₹2 lakh and an equal amount borrowed from a relative, and three staff in an office in Howrah district. Banks would not lend at first, but SIDBI gave a ₹20 lakh loan. Bandhan became a non-banking finance company in 2009, and in 2014 the RBI chose it as one of two new bank licence holders, ahead of large business houses. By early 2017 Bandhan Bank had 772 branches.
Timeline
- 1960Born in Agartala, Tripura.
- 2001Starts Bandhan as an NGO with ₹2 lakh savings and ₹2 lakh borrowed.
- 2009Bandhan registers as a non-banking finance company.
- 2014Wins one of two new bank licences from the RBI.
- 2017Bandhan Bank has 772 branches and nearly 1 crore customers.