Chandra Shekhar Ghosh, founder of Bandhan Bank, a fast-growing private sector bank, has earned Rs 10,600 crore by selling its stake in the last few years. The bank’s CEO Ghosh sold the stake as per RBI guidelines. Now they will keep 40% in the bank instead of 60.95%. According to RBI rules, no person can hold more than 40% stake in any financial institution. Last year, the RBI banned the expansion of Bandhan Bank branches due to the failure of the declaration.
Born into a poor family in Bangladesh, Ghosh’s journey is a story of getting off the floor. Ghosh, who was riding a bicycle at one time, has reached this place in this way. Chandrasekhar Ghosh was born in 1960 in Greater Tripura. Ghosh, the eldest of six siblings, had a total of 15 members in his family and his father ran a small sweet shop.
Selling milk became a loan
Being the eldest son of the family, Ghosh started selling milk to help his father financially and earning a few rupees by tutoring the children. However, in the midst of this struggle he continued his studies and obtained his M.A. in Statistics from Dhaka University. Then in 1985, she joined a Dhaka-based branch that was an international organization helping poor women in rural Bangladesh. He then started a lending business and became the owner of a bank. For this start he started with 2 lakhs.
Bandhan started the Konnagar Institute in 2001 with a loan of Rs 2 lakh from relatives. Who gave this amount to poor women at low interest. Who used to travel to small villages and persuade women to take loans. He finally opened a non-banking finance company in 2009 and obtained a banking license in 2014. As per RBI guidelines, it has earned Rs 10,600 crore by selling 20 per cent stake. They still have a 40 percent stake.