From Class 8 Failure to Founder of a Rs 49,698 Crore Bank Rivaling HDFC and ICICI


Table of Contents

Early Life and Education

Sanjay Agarwal, one of India’s emerging billionaires, has a remarkable journey that began in Rajasthan. Born to an engineer working for the Rajasthan State Electricity Board, Sanjay faced significant academic challenges. Failing to pass the eighth grade, he gave up his dream of becoming a cricketer. Instead, he transitioned from studying in Hindi to English in an effort to improve his academic prospects. Despite these setbacks, Sanjay completed his education at Government College, Ajmer, and set his sights on a career in finance.

Professional Beginnings

After graduating, Sanjay pursued chartered accountancy. He joined a firm of Certified Public Accountants (CPAs) and dedicated himself to passing the CA exam. His path was not easy; he failed twice and experienced a mental breakdown before finally succeeding. Though offered a promising position in Mumbai, Sanjay chose to remain in Jaipur and build his own venture.

Launching AU Small Finance Bank

At the age of 25, with no initial capital, Sanjay persuaded local businesspeople to invest in a finance company. He started modestly, offering car loans and earning a nominal fee. Gradually, he expanded his interests, acquiring businesses such as a granite mill and a trucking firm. By 2000, he decided to focus exclusively on finance. Key milestones included a 2002 partnership with HDFC and securing a capital round from Motilal Oswal in 2009.

Achieving Success

In 2017, Sanjay transformed his company into AU Small Finance Bank, evolving from its humble beginnings with no initial funding. The bank, headquartered in Jaipur, now serves over 30 lakh customers through more than 1,000 locations across India. According to News 18, AU Small Finance Bank has a market value of Rs 49,698 crore. Sanjay Agarwal, as the CEO and Managing Director, has driven its growth and success.

Net Worth and Recognition

As of 2023, Sanjay Agarwal’s net worth exceeded Rs 10,026 crore ($1.2 billion). His remarkable journey from a struggling student to a self-made business magnate places him among the wealthiest individuals from Rajasthan and exemplifies entrepreneurial success in India.

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Written by Sri Krishna

Sri Krishna is the accomplished eCommerce and retail branding expert, renowned for creating captivating content, building brand reputation, and fostering brand growth. With expertise in targeted marketing campaigns and exceptional customer experiences, Sri Krishna cultivates brand loyalty and recognition. Through innovative branding strategies, Sri Krishna empowers businesses to succeed in the ever-evolving eCommerce and retail landscape.

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