Bandhan Bank MD & CEO Chandra Shekhar Ghosh sheds light on women empowerment; more women taking lead in family decision-making at 'Ideas of India' Summit 3.0

“The need for the country is to elevate women with financial support and empowering their entrepreneurial spirit”

 

“Every woman possesses innate entrepreneurial talent, with a staggering 95% success rate in their start-up ventures.”

 

Mumbai, February 24, 2024: Bandhan Bank's Managing Director and CEO, Chandra Shekhar Ghosh, illuminated the essence of women's empowerment during his address at the 'Ideas of India' Summit 3.0. Under the theme 'Banking on People Power, The Rise of Financial Freedom,' Ghosh emphasized the pivotal role of financial support in elevating women and nurturing their entrepreneurial spirit.

Addressing the evolution of banking amidst the rise of fintech companies, Ghosh emphasized, "While digital innovations will shape India's future, but our commitment to providing credit, facilitating group meetings, and ensuring regular engagement will foster sustainable growth in rural India.” 

Furthermore, Ghosh emphasized the importance of maintaining a balance between business sustainability and charity. He stated, “Sustainability is crucial in any business, charity cannot sustain businesses. At Bandhan Bank, we ensure both our customers and our business thrive sustainably. Surplus funds are directed towards CSR initiatives, distinguishing us in our commitment to societal well.” 

Highlighting the tangible impact of Bandhan Bank's initiatives on women's lives, Ghosh cited success stories such as Ms. Lanka from Chembur, whose monthly income witnessed a remarkable surge from 22 rupees to 30,000 rupees with the bank's support. Similarly, he spotlighted Ms. Shravani from Odisha, showcasing the transformative potential of women's economic empowerment in enriching communities.

Reflecting on the entrepreneurial acumen inherent in women, Chandra Shekhar Ghosh stated, "Every woman possesses innate entrepreneurial talent, with a staggering 95% success rate in their startup ventures. Their earnings not only uplift their families but also enrich the fabric of our society."

Ghosh, a leading advocate of financial inclusion in India and with over three decades of experience in microfinance, banking, and development, is renowned for his work in transforming the lives of the underprivileged through initiatives like 'Bandhan.' What started as a not-for-profit entity in April 2001, providing small loans to the underprivileged, evolved into an NBFC in April 2006, and eventually into a universal bank in August 2015, marking a significant milestone in the Indian financial landscape.

The ABP Network’s ‘Ideas of India’ Summit 3.0 spotlighting the ‘The People’s Agenda’ brought a confluence of ideas and ideators to a common platform celebrating the country’s people and its plurality. The two-day summit hosted policymakers, cultural ambassadors, industry experts, celebrities, business leaders, economists, and leading luminaries to delve into the fundamental ideas of liberty, justice, equality, and diversity that define India, its society, culture, and politics. The meaningful deliberations on diverse topics had the brightest minds across sectors providing insights about the nation's trajectory and its journey to become Viksit Bharat.