Samit Ghosh

Last updated

Samit Ghosh
Born1949 (age 75–76)
Dhanbad, India
Education Wharton School (MBA)
Title

Samit Ghosh is the founder of Ujjivan Financial Services Limited, and was its managing director and chief executive officer until 31 January 2017, when he accepted an equivalent role with subsidiary Ujjivan Small Finance Bank. [1] Prior to 2004, he held positions at Citibank, Standard Chartered, and HDFC Bank. He was CEO of Ujjivan Financial Services until 2017, and now its non-executive chairman. [2] [3]

Contents

Early life and education

Samit Ghosh was born in 1949 to Dr. Sailendra Kumar. Ghosh spent a large part of his early years in Dhanbad. His father was a doctor who served the Indian Army during World War II and set up a number of government hospitals in the poor coal mining areas near Dhanbad. [4] He lost his father at age of 10. His mother was a professor in Sri Shikshyatan College. [5] Ghosh completed his undergraduate in economics from St. Xavier's College in Kolkata and Master of Business Administration in finance from The Wharton School of Business at the University of Pennsylvania, United States. [6]

Career

Samit Ghosh has a banking career spanning over 30 years in India, South Asia and the Middle East with a specialization in retail banking. He started his career with Citibank in 1975. From 1980 to 1985, he worked as the vice president for investment and corporate banking at Arab Bank in Bahrain. He returned to India in 1985 to rejoin Citibank and was part of the management team which launched retail banking in 1985. He was the vice-president of Citibank from 1975-1980 and again from 1985-1993. [7] From 1993 to 1996, he held the position of regional head of personal banking for South Asia and the Middle East at Standard Chartered Bank in Dubai. [8] Prior to founding Ujjivan, he was the CEO at Bank of Muscat. [9] [10]

In November 2005, he founded Ujjivan Financial Services in Bengaluru as a non-deposit taking, non-banking financial company (NBFC), primarily operating in the microfinance sector. The organization focuses on providing loans to women in urban and semi-urban areas. In 2013, Ujjivan obtained registration with the Reserve Bank of India (RBI) as a non-banking financial company - microfinance institution (NBFC-MFI). [4] From February 1, 2017, he held the position of MD & CEO at Ujjivan Small Finance Bank until his retirement on November 30, 2019. Ghosh is a Non-Executive, Non-Independent Director at Ujjivan Small Finance Bank. [11]

Other roles

He has been the president of Microfinance Institutions Network (MFIN) and chairman of Association of Karnataka Microfinance Institutions (AKMI). [12] Since April 2020, he has been a CSI Partner at the Nudge Centre for Social Innovation, and as a Non-Executive Director at Parinaam Foundation since September 2020. [13] [14]

Awards and honors

In 2011, Ujjivan Financial Services was awarded as Microfinance Organization of the Year. [15] Ghosh was awarded a Social Impact Entrepreneur of the Year Award in 2015 by Forbes India. [16] In 2019, he was awarded for Contribution to advancing financial inclusion at Inclusive Finance India Awards, 2019. [17]

Related Research Articles

<span class="mw-page-title-main">Reliance Capital</span> Indian Financial Services company

Reliance Capital Limited is an Indian diversified financial services holding company promoted by Reliance Anil Dhirubhai Ambani Group. Reliance Capital, a constituent of Nifty Midcap 50 and MSCI Global Small Cap Index, is a part of the Reliance Group. It is amongst India's leading and most valuable financial services companies in the private sector. As on 31 March 2017, the net worth of the company stood at ₹16,548 crore, while its total assets as on the date stood at ₹82,209 crore. In Fortune India 500 list of 2018, Reliance Capital was ranked as the 77th largest corporation in India with 5th rank in 'Non-Banking Finance' category.

Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. As of December 2023, the bank has 1,869 branches and 3,239 ATMs, including branches in GIFT City and DIFC (Dubai).

<span class="mw-page-title-main">National Bank for Agriculture and Rural Development</span> Government owned All India Development Financial Institution and Regulatory Body

The National Bank for Agriculture and Rural Development (NABARD) is an All India Development Financial Institution (DFI) and an apex Supervisory Body for overall supervision of Regional Rural Banks, State Cooperative Banks and District Central Cooperative Banks in India. It was established under the NABARD Act 1981 passed by the Parliament of India. It is fully owned by Government of India and functions under the Department of Financial Services (DFS) under the Ministry of Finance.

Vijay Mahajan is the chief executive officer (CEO) of the Rajiv Gandhi Foundation and the director of the Rajiv Gandhi Institute of Contemporary Studies.

Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase insurance business or chit-fund business, but does not include any institution whose principal business is that of agriculture, industrial activity, purchase or sale of any goods or providing any services and sale/purchase/construction of immovable property.

Manappuram Finance Ltd is an Indian non-banking financial company (NBFC) based in Valapad, Thrissur, Kerala. Manappuram has over 4190+ branches across 25 states.

The Microfinance Institutions Network is an association for the microfinance sector in India.

<span class="mw-page-title-main">RBL Bank</span> Indian bank

RBL Bank, formerly known as Ratnakar Bank Limited, is an Indian private sector bank founded in 1943 and headquartered in Mumbai. It offers services across five verticals: corporate banking, commercial banking, branch banking and retail liabilities, retail assets, and treasury and financial markets operations.

<span class="mw-page-title-main">Chandra Shekhar Ghosh</span> Indian businessman

Chandra Shekhar Ghosh, is the Founder, former MD & CEO of Bandhan Bank. He has been one of the foremost proponents of financial inclusion in India. He has more than 30 years of experience in the microfinance and development terrain.

Bandhan Bank Ltd. is a banking and financial services company, headquartered in Kolkata.

Small finance banks (SFB) are a type of niche banks in India. Banks with a SFB license can provide basic banking service of acceptance of deposits and lending. The aim behind these is to provide financial inclusion to sections of the economy not being served by other banks, such as small business units, small and marginal farmers, micro and small industries and unorganised sector entities.

<span class="mw-page-title-main">Rajeev Kakar</span> India banker

Rajeev Kakar is an Indian banker, serial business founder and entrepreneur. He currently serves as an Independent Non-Executive Director at Commercial International Bank, Egypt; Gulf International Bank, Bahrain and KSA; Eurobank Ergasias SA, Greece and Satin Creditcare Network, India. He also serves, since 2009, as a member of the Global Advisory Board of the prestigious University of Chicago, Booth School of Business, and also as a Member of the Industry Advisory Board of the SP Jain School of Global Management since 2011. As a Board Member at Eurobank, Rajeev also serves as the Chairman of the Board Remuneration Committee and Vice Chairman of the Board Risk Committee.

<span class="mw-page-title-main">V. Vaidyanathan</span> Indian Businessman

V. Vaidyanathan is an Indian banker who is the Managing Director and Chief Executive Officer (CEO) of IDFC First Bank, formed after the merger of IDFC Bank and Capital First. Prior to assuming this role, he held the position of Chief Executive Officer at ICICI Prudential Life Insurance and was a member of the Board of Governors at ICICI Bank since 2006.

Bajaj Finance Limited (BFL) is a deposit-taking Indian non-banking financial company headquartered in Pune. It has a customer base of 88.11 million and holds assets under management worth ₹354,192 crore (US$41 billion), as of June 2024.

<span class="mw-page-title-main">ESAF Small Finance Bank</span> Indian small finance bank

ESAF Small Finance Bank is an Indian small finance bank headquartered in Thrissur, Kerala, providing banking services and small loans to the underbanked. Having started its operations as an NGO in 1992 under the name of Evangelical Social Action Forum, ESAF Microfinance was a non-banking finance company and microfinance institution (NBFC-MFI), licensed by the Reserve Bank of India (RBI). It became a small finance bank in March 2017 and started operating in January 2018.

<span class="mw-page-title-main">Equitas Small Finance Bank</span> Small finance bank

Equitas Small Finance Bank is a small finance bank founded in 2016 as a microfinance lender. The Bank has its headquarters in Chennai, and is a subsidiary of holding company Equitas Holdings Ltd.

Ujjivan Small Finance Bank Limited is an Indian small finance bank based in Bangalore, which commenced operations on 1 February 2017. Ujjivan Financial Services holds an 80 percent stake in the bank.

Satin Creditcare Network Limited is a non-banking finance company (NBFC), licensed by the Reserve Bank of India. It was founded in 1990 by Mr. H P Singh. The company's offers financial requirements for excluded households at the bottom of the pyramid. Satin Creditcare Network Limited is a micro-finance institution (MFI) in the country with presence in 7 states and more than 12,00 villages.

<span class="mw-page-title-main">IDFC First Bank</span> Indian private sector bank

IDFC First Bank is an Indian private sector bank based in Mumbai. Founded in 2015 as a banking subsidiary of IDFC Limited, it shifted focus from infrastructure financing to retail banking in the years after its 2018 merger with Capital First. In 2024, the bank took over the parent company IDFC Limited in a reverse merger.

<span class="mw-page-title-main">VFS Capital</span> Indian non-banking financial company

VFS Capital Limited formerly known as Village Financial Services Ltd (VFS), is headquartered in Kolkata, was incorporated on 28 June 1994, as a private limited company before it got its present name.

References

  1. ↑ "Ujjivan Microfinance MD Samit Ghosh Resigns".
  2. ↑ "Samit Kumar Ghosh, Ujjivan Small Finance Bank Ltd: Profile and Biography". Bloomberg.com. Retrieved 24 June 2023.
  3. ↑ "Exclusive Interview | It hurts when something like this happens, says Samit Ghosh, Founder Ujjivan, on minority shareholders rejecting his appointment as MD & CEO". Moneycontrol. 30 April 2021. Retrieved 24 June 2023.
  4. 1 2 "Former Banker Samit Ghosh's Epiphany". Forbes India. Retrieved 24 June 2023.
  5. ↑ "How Samit Ghosh Built Ujjivan Financial Services | MYB International". www.mybinternational.com. Retrieved 24 June 2023.
  6. ↑ Ray, Atmadip (15 June 2016). "Samit Ghosh: Entrepreneur making Ujjivan Financial Services a finance bank". Economic Times. Retrieved 12 January 2020.
  7. ↑ Desk, B. B. N. (30 October 2010). "Citi Organizes seminar on foreign exchange and rates risk management". Bangladesh Business News. Retrieved 24 June 2023.{{cite web}}: |last= has generic name (help)
  8. ↑ "The economic well-being of the country has dramatically changed: Samit Ghosh". www.fortuneindia.com. 9 July 2019. Retrieved 24 June 2023.
  9. ↑ "rediff.com: Heading: BankMuscat to expand operations in India". www.rediff.com. Retrieved 24 June 2023.
  10. ↑ Standard (18 July 2002). "After A Botched Bid, Bank Muscat Goes Solo". www.business-standard.com. Retrieved 24 June 2023.
  11. ↑ "Ujjivan". www.ujjivan.com. Retrieved 24 June 2023.
  12. ↑ "MFIN elects Ujjivan's Samit Ghosh as president and Bandhan's CS Ghosh as vice president".
  13. ↑ "The/Nudge | Centre for Social Innovation". csi.thenudge.org. Retrieved 24 June 2023.
  14. ↑ "Board of Directors - Parinaam Foundation". www.parinaam.org. Retrieved 24 June 2023.
  15. ↑ Standard (13 December 2011). "Ujjivan is 'Microfinance Organisation of the Year 2011'". www.business-standard.com. Retrieved 24 June 2023.
  16. ↑ "Former banker Samit Ghosh's epiphany".
  17. ↑ Bank, Ujjivan Small Finance. "Our Awards". www.ujjivansfb.in. Retrieved 24 June 2023.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.