Guest bio
- Pioneer of Indian banking and microfinance who founded Ujjivan Financial Services in 2005, now Ujjivan Small Finance Bank.
- Began at Citibank in 1975, helping launch its retail and non-resident Indian banking, later a Harvard Business School case study.
- Held senior roles at Arab Bank, Standard Chartered and HDFC Bank, where he helped lay the foundations of Indian retail banking.
Samit Ghosh is a pioneer of Indian banking and microfinance. He began at Citibank in 1975, where he helped launch its retail and non-resident Indian banking services, an initiative that became a Harvard Business School case study, and went on to senior roles at Arab Bank, at Standard Chartered, where he headed personal banking for South Asia and the Middle East, and at HDFC Bank, where he helped build the foundations of retail banking in India. In 2005 he founded Ujjivan Financial Services in Bangalore, now Ujjivan Small Finance Bank, a model for responsible microfinance for women and the urban poor. He has been president of the Microfinance Institutions Network and chairman of the Association of Karnataka Microfinance Institutions, and leads the Parinaam Foundation for urban ultra-poor communities. He studied at Jadavpur University and holds a Wharton MBA.
Show notes
Step into the heart of India’s banking revolution as Money Majlis welcomes Samit Ghosh, an iconic banker and the founder of Ujjivan Small Finance Bank, whose name resonates with financial inclusion and the transformation of millions of lives. In this multi-layered episode, Suvo Sarkar journeys to Bangalore to sit down with his long-time mentor, uncovering a story that weaves together ambition, empathy, and the relentless pursuit of societal betterment.
Listeners are transported back to the coalfields of Dhanbad, where Samit’s early years were shaped by the Jesuit values of service and purpose. He reflects warmly on the formative education and family influences that instilled ideals he would carry through decades of banking. Samit’s journey traverses the high-stakes boardrooms of Citibank, Standard Chartered, and HDFC Bank, charting pivotal milestones like launching the NRI banking services-an initiative so impactful it became a Harvard Business School case study. Samit provides a front-row account of the challenges and triumphs in bringing modern banking to India, the significance of technology, and how nurturing talent and taking chances on youth shaped a generation of leaders.
But the conversation dives deeper than institutional success, exploring Samit’s courageous leap from corporate comfort into the world of microfinance. Founding Ujjivan Financial Services, he challenged longstanding beliefs about poor customers by harnessing technology and a vision for scale. Under his leadership, Ujjivan became a beacon for responsible lending, empowering urban poor and especially women through innovative joint liability models and careful risk management. Samit candidly addresses both the rewards and the pitfalls of microfinance in India, reflecting on the need for responsible lending, and balancing investor expectations with a social mission.
This episode also unveils the profoundly human side of Samit, from his deep personal loss to the joys and rhythms of life in Bangalore, culinary adventures, and restless explorations of the world. His leadership philosophy, grounded in respect and purpose, shines through moving stories of crisis, resilience, and empathy, offering inspiration to young leaders navigating today’s disruptive landscape.
From boardrooms to communities, from banking innovation to social entrepreneurship, Samit Ghosh’s journey is both blueprint and beacon. This episode of Money Majlis serves as an unmissable chronicle of friendship, legacy, and the enduring power of conscious capitalism.
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