Explanation:

- Bandhan Bank Ltd. started as a micro-finance company in India.

- Correct Answer: Option 2 - Micro-Finance

- Option 1: Infrastructure finance - Involves financing for infrastructure projects, not related to Bandhan’s origin.

- Option 2: Micro-Finance - Bandhan originally focused on micro-loans to underserved individuals; this describes its beginnings accurately.

- Option 3: Small Finance - Refers to banks serving small businesses and low-income households, but not Bandhan’s initial focus.

- Option 4: Small & Medium Enterprises - Involves providing financial services to SMEs, which wasn’t Bandhan’s starting point.

- Option 5: Other than the given options - Not applicable as micro-finance is listed.