Chanda Kochhar is the prominent face for changing the retail banking in India. She is the Managing Director (MD) and Chief Executive Officer (CEO) of the ICICI Bank. Chanda Kochhar is the inspiration for all women who don’t want to compromise between a mother and a working woman.
She has good leadership qualities and startegic plans which helps ICICI to touch new heights. She got a good rank in the Forbes list of ‘The World’s 100 Most Powerful Women 2016’. Chanda Kochhar also received the ‘Global Leadership Award’ from the US-India Business Council in 2011.
Chanda Kochhar was honored by the Padma Bhushan, one of India’s highest civilian honors, in 2011.
Chanda Kochhar was born on 17th November 1961, in Jodhpur, Rajasthan, India. She went to St. Angela Sophia School, Jaipur for her studies. At the age of 13, she lost her father. Her mother took the responsibility of the whole family. Thus, she shifted to Mumbai near her hometown. For bachelor’s degree, Chanda took admission in Jai Hind College, Mumbai.
After Graduation, she completed her master’s degree from Jamnalal Bajaj Institute of Management Studies, Mumbai in management. Chanda Kochhar was dedicated towards her studies. Thus, she won a gold medal Wockhardt Gold Medal for Excellence in Management Studies. In addition to it, she also received J. N. Bose Gold Medal in Cost Accountancy.
Work at ICICI
In 1984, Chanda Kochhar marked her debut as a Manager Trainee in ICICI (Industrial Credit and Investment Corporation of India). Initially, she handled industry’s projects such as textile, paper and cement. It was little bit hard for her to handle projects in industrial sector but she did her part very well.
In 1993, Chanda Kochhar was the member of core team to set up banks. After a year she got promotion and became the Assistance General Manager. Her work and working strategies were remarkable. After consideration, in 1996 she again got a new post of Deputy General Manager in ICICI.
In 1996, ICICI bank formed a new infrastructure industry group to mainly focus on power, telecom and transportation. Chanda Kochhar was head of this group. After inspecting her dedication towards project and good results she recieved a new post and thus became the General Manager.
Being a General Manager, she was in-charge to deal with the top 200 clients of the ICICI Group. In 1999, E-commerce sectors of the bank was entrusted to her as the part of her responsibility.
New Heights of ICICI
In 2000, ICICI started touching new heights. It started focusing and expanding retail banking business, under the management of Chanda Kochhar. In 2001, she got a new post of Executive Director. Kochhar took a very good responsibility of her work and results were quite excellent. Therefore, in 2006 she was promoted to the Deputy Managing Director of ICICI Bank.
Promotion means more work. Thus, she started handling international and corporate businesses of the bank. Her journey didn’t stop here. Instead of being a mother of two children, she kept a very good balance between her work and family. She never compromised on either.
Up to 2009, she became the Chief Financial Officer (CFO) and Joint Managing Director. After some time, she became the Chief Executive Officer (CEO) and Managing Director of the ICICI bank.
Success of Chanda Kochhar
Being at the top, Kochhar is now responsible for many important works in the bank and also for international affairs. She is part of two forums namely, India–Japan Business Leaders and the US-India CEO.
Chanda Kochhar is also Deputy Chairman at the Indian Banks Association as well as chairman at governors of IIIT, Vadodara. She got award for the best Retail Banker of the year, 2004 by the Asian banker. Since 2005, Chanda Kochhar continuously appeared in Fortune’s list of “Most powerful women in Business”.
She also appeared at 20th position in the Forbes list (a list of wealthiest persons in the world) in the category “World’s 100 Most Powerful Women” in 2009.
In the year 2011, she was co-chair of the World Economic Forum’s Annual Meeting. In the same year, she received one of the biggest honorary award of India, Padma Bhushan.
Chanda Kochhar’s awards and appreciations aren’t just bounded to India. In 2014, she received honorary doctorate from Carleton University, Canada.
She was appointed in the Time Magazine’s list of the “100 Most Influential People in the World 2015”. Recently, she received the Woodrow Wilson Award for Global Corporate Citizenship from the Woodrow Wilson Centre located in Washington, US.
Journey from Manager Trainee to the top of the bank, depicts the struggle of Chanda Kochhar in her career. She always take her work seriously. Also, she handles everything efficiently.
Being a wife and a mother of two children she never afraid to take more responsibilities in her work. She is always enthusiastic in moving forward and continuous learning.
This is the reason, Chanda Kohhar moved regularly from one level to another. She received many awards and appreciation but never said this is the end of her career. She always wanted to move forward.
Chanda Kochhar brought a very big change in the retail banking system of India. It oversimplifies the banking system and helps us to save our valuable time instead of waiting for our chance in the long queue. She got Padma Bhushan, a dream of many people.
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