He Built a Billion-Dollar Company. But This ₹1 Cheque Means More to Him
In a world where billionaires chase headlines and success is often measured in stock prices, Subroto Bagchi, co-founder of Mindtree and one of India's most respected business leaders, has offered a strikingly different narrative. It comes not in the form of a grand announcement, but in a picture of a humble Re 1 cheque, his final symbolic salary after eight years of public service to his home state, Odisha. Shared quietly on social media, the image of the cheque has since gone viral not for its monetary value but for the powerful message it holds. To Bagchi, that single rupee is more valuable than all the wealth he has created, donated, or earned. “What is the biggest wealth in this one life that I would never ever part with?” he asks. His answer: a paper cheque worth Re 1.A Symbol of Humble BeginningsSubroto Bagchi was born in Patnagarh, Odisha, to a junior government servant. Unlike many in the tech world who came from elite institutions, Bagchi's journey began at Utkal University, where he studied political science. His first job was not in a plush office but as a clerk in Odisha’s Industries Department. Over the decades, Bagchi climbed the ladder from government clerk to corporate executive at Wipro and eventually to co-founding Mindtree in 1999. Under his leadership, Mindtree grew into a global IT services firm with over 20,000 employees and revenue crossing $1 billion by 2019. Yet, despite this dazzling corporate success, Bagchi's greatest pride lies in what he did after the boardrooms—when he chose to return to Odisha and serve without seeking profit or applause.The Birth of a Symbol: ₹1 for 8 Years of ServiceIn 2016, Bagchi accepted an invitation from Chief Minister Naveen Patnaik to head the Odisha Skill Development Authority (OSDA) as chairman. He was granted the rank and status of a Cabinet Minister but he made one unusual request: a salary of just Re 1 per year. Over the next eight years, Bagchi worked quietly and diligently, helping shape Odisha’s efforts in institution and capacity building, workforce development, and skill-based training. His last salary as Chief Advisor to the Government of Odisha came as a paper cheque for Re 1 from the State Bank of India—a small piece of paper, but to him, the most valuable recognition of his life.Leadership Measured in Purpose, Not PayWhat makes Bagchi’s journey so extraordinary is not just his success but his unshakable sense of purpose. At a time when many corporate leaders transition to lucrative advisory roles or spend retirement on boards with fat paychecks, Bagchi took the opposite route. He chose public service over personal gain. His life speaks to the idea that true leadership is about service and about giving back, not just getting ahead. He and his wife, Susmita Bagchi, an acclaimed Odia author, have also pledged hundreds of crores towards causes like cancer care and skill development, quietly fueling change where it's needed most. When Bagchi posted the cheque online, it related instantly. Across India, people lauded the gesture as a rare act of sincerity in a world often dominated by performative philanthropy. Bagchi’s ₹1 cheque has become a symbol of selfless leadership, a reminder that the richest people are not those who accumulate the most, but those who give with the greatest intention.A Bench of Values in a Corporate AgeSubroto Bagchi’s Re 1 salary stands in stark contrast to corporate excesses, inflated bonuses, and grand gestures of wealth. It also brings back memories of a time when symbolic salaries were badges of honor. Bagchi's story reminds us that such spirit isn't lost. It's alive in places like Odisha, in leaders who don’t announce their good deeds but live them out in quiet, consistent service. His journey from a clerk in the Odisha government to the co-founder of a billion-dollar company and back again to serve the state with no expectations isn’t just inspirational. It’s transformational. In the end, it’s not the size of the cheque that counts, but the weight of the intent behind it. And by that measure, Bagchi may just be the richest man of all.
