Alok Biswas, Janakalyan: Committed to economic upliftment

In Conversation with Alok Biswas, CO-FOUNDER & MD, Janakalyan

Y e ar s o f wor k i n g in t h e i ndus t r y , yo ur c o n tr ibu t i o n r efl ec ts v e r s a ti l i t y an d volub i l i t y . Wh a t ha s inf l ue n c e d yo ur d e c i si o n m ak i n g pr o ce s s a t v a r i ou s s t ag es?

Having worked nearly 31 years in BFSI segment. Initially 21 years with Banking Industry and last 10 years with MFI industry as Managing Director & CEO . Being a member of MFIN, an Industry Body of NBFC-MFI and approved SRO of RBI and also a Board Member of AMFI-WB , my contribution goes to the policy level and associated since 2010.

I hail from a poor, destitute family, rather there was no family. My father passed away when I was only 4 years old and my mother became mentally unstable. We did not have any place to go at that time as everything had been acquired by all other uncles; as a result of which I could not go to school, worked in field, no proper facilities , long history. So, I am used to making decisions on my own from quite an early age. Facing so many hurdles in the way made it easier for me to take decision at crucial stages.

An acc o m p l is h m e n t t h a t yo u c on sider t o b e t h e m o s t si g nifi c a n t in yo ur c ar e er?

My association with Canara Bank and working in rural lending in initial days and also the finance project while doing my PGDM at Xavier Institute of Management, Bhubaneswar . Chances of meeting Dr Mohd Younus , Nobel Laureate and Founder of Bangladesh Grameen Bank and reading Dr Raghuram Rajan’s , “Banking Structures- the way forward” in 2009 who I also met in 2015 during the licencing process of SFB had an immense effect on my life. Have resigned from the post of Vice President & Cluster Head of Axis Bank in charge of Odisha, Chattisgarh and Jharkhand, I founded Jagaran Microfin Private Limited eventually to start a Small Finance Bank knowing that poor are bankable. The attempt to get the SFB licence in 2015 from Jagaran was unsuccessful. Following that I left Jagaran in 2016 and co-founded Janakalyan with my aim to become a Small Finance Bank or a good NBFC which will cater the need of unserved or underserved people of the country.

H o w do yo u i n t e g r a te c or p o r a te p h il a n t h ro p y o r c o rp o r a t e so c ia l r e s p on s ib i l i t y a s a p a r t o f yo ur bu si n e s s s t r a t e g ies?

Philanthropy is a part of our corporate culture, a necessary at every stage of our working. We call it as CSR or social collateral to our programme. It is in built in our mission too as a business strategy and personally I always nurtured within the Company or myself.

Wh a t ha s be en yo ur d r i v i n g for ce o r p h i lo s op h y in li f e?

To explore new avenues of growth, to contribute positively to the organization and absorb the best that experience have to offer. Creating value to the organization through sustained effort within permissible law of the land and helping the society in sustainable development through economic development, like creating job opportunities, micro entrepreneurship programs, educational support has always been my intention. I had joined Canara Bank, then Indian Bank, both of which are Public Sector Banks and moved to UTI Bank/Axis Bank later and then founded Jagaran Microfin Private Limited followed by Janakalyan. My philosophy is do good to others and create a platform through which something good can be done for people.

Wh a t ar e t h e o t h er p h il a n t h rop ic wor ks yo u ar e i n volv e d in?

Since my childhood philanthropic work was a big part of my life. Some of the works are mentioned here: -

Was an elected member in Students’ Union (1983-87) for consecutively four years in Bagula Srikrishna College, Bagula, Nadia and held several key posts in Students’ Union. My major focus was to help poor students by providing free books and waiver of tuition fee through Students Union Fund and without discrimination of caste/creed/religion as poor SC/ST students were eligible for stipend from govt.