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| Chanda Kochchar- CEO ICICI |
Chanda Kochhar was born on November 17, 1961) is currently the Managing Director (MD) of ICICI BANK and CEO. ICICI is India's largest private bank and overall second largest bank in the country.She also heads the Corporate Centre of ICICI Bank.
Chanda Kochhar was born in Jodhpur,Rajasthan and raised in Jaipur,Rajasthan.After graduating in 1982 she the pursued Cost Accountancy ICWAI,later she acquired the Masters degree in Management Studies,Mumbai.
Not so long ago, she used to read the narrative on Lord Vishnu for half
an hour every morning, but as the days got longer at work, she has
switched to the fortnightly routine in her “mobile” study.
Conventional wisdom has it that the Katha helps ordinary mortals
overcome vices such as anger and ego. Kochhar’s perennially calm
expression suggests the Lord has been extra kind to her. Mention that
and Kochhar breaks into a hearty laugh. “I am religious, but not a
ritualistic person. For example, I don’t lose sleep if I can’t go to the
temple for more than a month. I also believe strongly in destiny,” she
says.
That’s understandable, given that destiny played a big role in her
choice of career. As a child, she wanted to be an IAS officer, but life
turned upside down when her father, who was the Principal of an
engineering college in Jaipur, died when she was just 13. Her mother
then shifted to Mumbai with her three young children (Kochhar, 49, is
the youngest) just to stay in close proximity to her extended family.
Among other things, that meant a huge adjustment in lifestyle. “In
Jaipur everyone knew everyone; in Mumbai, it takes time for anyone to
know anyone,” Kochhar says. In a way, she adds, the sudden loss of her
father strengthened her determination to face life’s challenges. “One
has to thank God and family for whatever I have achieved. At the same
time, I must say God can help you only when you work hard,” she adds
“If you look at bankers, they either grow to be investment bankers or
corporate bankers or retail bankers. So for me to be a corporate as
well as retail banker was a great opportunity,” Kochhar says.
She also remembers Kamath’s comments quite early in her career. As
the head of ICICI’s Western Regional Office, she made a brief
presentation to Kamath on the changes she has made in the functioning of
the office. But Kamath’s question baffled her: “Who did you ask before
making the changes?” Kochhar just about mustered enough courage to say,
“No one”. Kamath congratulated her for her initiative.
That’s something that also impressed N Vaghul, then ICICI chairman.
When ICICI set up a commercial bank in 1993, she was only an assistant
general manager. But Vaghul chose her to lead a team that would decide
everything about the architecture of the bank — an experience she
reckons was invaluable. “I was the employee number one in ICICI Bank,”
Kochhar says — a satisfaction that prompted her to turn down many
lucrative offers from competition.
But all this has meant extraordinary hard work and having to live
with the “guilt conscience” that every working mother suffers. “There is
no past tense to guilt conscience. I have been living with it every
single day — even now,” Kochhar says.She, however, has no regrets as ultimately, one has to make a choice
in life and work around it.
That explains her numerous “day trips” to
New York on official work — she takes a late night flight so that she
can reach her destination early morning NY time. After a day of
back-to-back meetings, she is on the flight back home the same night.
That means, though she is away for three days, it’s actually one day
because of the time difference.
“More than physical strength, one
requires mental strength to do this day in day out.”
But her
“supportive” family has made it worthwhile. Her husband is a
businessman, Aarti has finished her engineering and waiting to do her
MBA, and Arjun is in Class 10. “I think they are proud of me,” she adds.
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