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Ashoka, a leading agency focused on social change

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From sweet shop to Bankowner

a long journey from working in his father's small sweet shop in Agartala to emerge as one of the two new bank licence holders in the country.

April 15, 2023SHAFEERVK007@GMAIL.COM

CHANDRA SHEKHAR GOSHFOUNDER&CMD,BANDAN FINANCIAL

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ET ENTERPRENEUR OF THE YEAR

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Reserve Bank of India licence

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Reserve Bank of India announced the names of the two firms which had bagged the licenses,

first one Ghost or his non-banking financial company (NBFC) Banana Financial Services.

In the process, his NBFC outpaced 23 others, including big business houses and companies such as Anil Ambone's Reliance Capital, Adyta Birla Group, and Larsen & Toubro.

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TENACIOUS PERSON

Ghost, 53, was born in Agartala in Tripura tough life -child His father supported the family from the

earnings from his sweet shop. But, he was determined to give a good education to his child.

father tenacity completed master degree in statistics from

Dhaka University.

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From Life

"I faced a very difficult time when I was growing up

"I never thought that one day I will run a bank

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Mentors

, acknowledging the tremendous support he had received from his mentors such as Brig Mohan at Siddhi and Failure Has an Abed in Bangladesh.

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After studies, he joined an NGO in Bangladesh, BRAC, one of the largest developmental organizations in the world.The interaction with villagers and the poor inspired Ghost to work in the sector. 

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• He returned to India and worked for several NGOs and dabbled in some business projects as well

• His last job was with the Village Welfare Society, which he quit in 2000

• His work exposed him to the dire need of money in villages and the massive exploitation by money lenders, who charged 200% to 300% for small loans.

• "Everybody advised me against leaving the job. It was a big challenge. I had only Rest 2 lakh," said Ghost, who lives in Kolkata with his wife, 16-yearold son and mother.

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• He Started Banana (Which Means Bonding) In 2001 With His Savings And Had Three Employees.

• It Was A Daily Challenge For Him As He Slowly Scripted The Success Story Of One Of The Largest Micro-finance Institutions In The Country.

• It Began Its Operations From Bagnan, A Small Village, 60 Km Away From Kolkata, And Has Now Spread To 22 States And Union Territories. According To The Company's Website, The Main Focus Is On Eastern And Underdeveloped States In The Northeast.

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• Bandhan Micro Finance Initiative.• Today Boasts Of Over 2,000 Branches• Built A Model With An All-female

Membership• Zero Portfolio Risk, • 100% Recovery Rate.• Agency Focused On Social Change• Women Working Semi-urban Area Of

Kolkata And Helped Increase Their Average Income From Rs 300 A Month To Rs 2,000. 13,000 Employees Work In The Bank Now.

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Banana's inspiration is a poverty-free world through empowerment, while its vision is to be a world class international microfinance institution by 2020, serving 10 million clients.

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