New 'Bandhan Bank' Is Born: Chandra Shekhar Ghosh's Incredible Journey From 'Sweet Shop To A Bank Owner'

By Promila Dutta in Kolkata

In most Indian languages, the word Bandhan means bond or togetherness. His bond with the credit-deprived poor in Eastern India’s villages and a Rs 2 lakh loan were the initial capital for Chandra Shekhar Ghosh, the son of a small sweet-shop owner from Bengal, to begin a microfinance institution, Bandhan Financial Services Ltd, and grow it to a private bank in less than 15 years.

Bandhan Bank, India's latest private lender, will be officially launched in Kolkata on 23 August. On the first day, the bank will have a loan book of Rs 11,000 crore, close to 600 branches, 10 million customers and a net worth of Rs 3,200 crore. That’s the kind of numbers good enough to generate envy for any banker in India and requires years of hard work to achieve.