Sanjay Agarwal, who faced two unsuccessful attempts while trying to clear the CA examination, established a finance firm in 1997. Over the course of the next two decades, he transformed it into the AU Small Finance Bank.

Sanjay Agarwal is one of the youngest billionaires in India and among the richest people in Rajasthan. He is a self-made business tycoon who transformed his small finance firm into a full-fledged bank within 20 years.

Sanjay Agarwal founded a financial firm right after completing his education, which gradually grew into a thriving listed financial institution with a market capitalization of over Rs 45,000 crore. Today, he is the Managing Director and CEO of AU Small Finance Bank.

Sanjay, the son of an engineer working at the Rajasthan State Electricity Board, gave up his dream of playing cricket after failing class 8. He switched to Hindi medium education and persevered, eventually forging a successful career in the world of finance.

After obtaining his commerce degree from Government College, Ajmer, Sanjay pursued a career as a Chartered Accountant. He joined a CA firm and made two unsuccessful attempts at cracking the exam. In an interview with the Times of India, he mentioned that he even suffered a nervous breakdown.

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Sanjay, who became a Chartered Accountant, secured a job in Mumbai, but he chose to return to Jaipur and establish his own business despite having no capital. At the age of 25, he managed to persuade local entrepreneurs to invest in his finance company.

Initially, Sanjay began by financing vehicles and charging a nominal fee. He gradually diversified into other businesses such as a truck company and a granite factory. However, in the early 2000s, he decided to concentrate solely on finance. He achieved significant milestones in his journey such as a strategic partnership with HDFC in 2002 and securing funding from Motilal Oswal in 2009.

Sanjay Agarwal transformed his company, which he started without any capital, into AU Small Finance Bank after twenty years. In 2017, the bank was established and now has over 1,000 branches and more than 30 lakh customers throughout the country. As of 2023, Sanjay Agarwal’s net worth is over Rs 10,600 crore ($1.3 billion). The bank’s headquarters are located in Jaipur.