Bandhan Financial starts training its staff for role change

With the banking licence in its kitty, microfinance institution Bandhan Financial Services is gearing up to groom its 13,000-odd employees to become bankers.

The non-banking micro-lending firm plans to train around 1,500 employees every month under the guidance of 30 trainers at its 8 centres, said Chandra Shekhar Ghosh, Chairman and Managing Director.

The company has three training centres in West Bengal and one each in Assam, Agartala, Bihar, Delhi and Maharashtra.

Largely concentrated in the interiors, Bandhan aims to strengthen its base and convert its existing 55 lakh customer base into its banking clients. The Kolkata-based micro lender, along with Mumbai-based infrastructure lending firm IDFC, received teh Reserve Bank of India's “in-principle” approval to set up a bank last week.

The RBI has given 18 months to both the entities to comply with the requirements .

Ghosh said his institution plans to grow its business in the agriculture and small industries sector as it continues to serve the low-income base of customers.

Without putting a number, Ghosh said Bandhan plans to recruit more people at the senior as well as lower levels. “We will recruit more people. However, it would not be appropriate to give a number to it right now,” he said.

Ghosh added that Bandhan will focus on building capacity in the next 18 months, and accordingly, deploy more people.

Set up in 2001 , about 70 per cent of its total 2,016 branches are in the rural belt. Some of them would be restructured, Ghosh said.

As on February, Bandhan disbursed loans worth ₹963 crore, while loans outstanding stood at ₹5,704 crore.