Born November 17, 1961
From a management trainee to the post of the ICICI Bank’s chief executive officer, it has been a winning journey for Chanda Kochhar. Work is passion for Kochhar who believes that there is no substitute to hard work.
India’s banking sector has several women at the helm of affairs. In the corporate world dominated by men, Chanda Kochhar is one of the women have proved her mettle and made significant contribution to their respective businesses.
Kochhar has also consistently figured in Fortune’s list of “Most Powerful Women in Business” since 2005. In 2009, she debuted at number 20 in the Forbes “World’s 100 Most Powerful Women list”.
Chanda Kochhar is currently the Managing Director (MD) of ICICI Bank and Chief Executive Officer (CEO). ICICI Bank is India’s largest private bank and overall fourth largest bank in the country. She also heads the Corporate Centre of ICICI Bank.
Early life & Education
Chanda Kochhar was born in Jodhpur, Rajasthan and raised in Jaipur, Rajasthan. In Mumbai, she joined Jai Hind College for a Bachelor of Arts degree. After graduating in 1982 she then pursued MBA and Cost Accountancy (ICWAI). Later, she acquired the Masters Degree in Management Studies from the prestigious Jamnalal Bajaj Institute of Management Studies, Mumbai. She received the Wockhardt Gold Medal for Excellence in Management Studies as well as the J. N. Bose Gold Medal in Cost Accountancy for highest marks in the same year.
Soon after completing her masters in management studies (finance) and cost accountancy (Associate Member of ICWAI), this Jodhpur girl joined the erstwhile industrial finance company ICICI in 1984 as a management trainee.
In 1984, Chanda Kochhar joined “The Industrial Credit and Investment Corporation of India Ltd” or ICICI Ltd. as a Management trainee after her Masters. In her early years in ICICI, she handled Project Appraisal and Monitoring and projects in various industries like Petrochemicals, Textile, Paper and Cement.
In 1993, when the Industrial Credit and Investment Corporation of India decided to enter commercial banking business, Kochhar was deputed to ICICI Bank as a part of the core team to set up the operations.
she became a key member of the team that built ICICI, the commercial bank, and then scripted its retail success story. In April 2001, she was made executive director of retail banking and, five years later, deputy managing director of the bank.
She was instrumental in setting up, as well as scaling up, the retail business for ICICI. In 2000, by when Kochhar had already started rising from the ranks to become a key player in the top management, ICICI Bank formally entered retail banking business and within five years became the largest private sector financer in the country.
The bank became the leader in car and two-wheeler finance, home finance and card business – a super achievement by a woman who has been named among the world’s most powerful women by Fortune.
Chanda Kochhar succeeds K. V. Kamath as CEO of the bank for a period of five years. The only others who led Indian banks – Ranjana Kumar, who headed Indian Bank, and Homai Daruwalla, who heads Central Bank of India – are public sector bankers.
Awards & Honors
– Under Kochhar’s leadership, ICICI Bank won the “Best Retail Bank in India” award in 2001, 2003, 2004 and 2005 and “Excellence in Retail Banking Award” in 2002; both awards were given by the The Asian Banker.
– Kochhar personally was awarded “Retail Banker of the Year 2004 (Asia-Pacific region)” by the Asian Banker
– “Business Woman of the Year 2005″ by The Economic Times
– “Rising Star Award” for Global Awards 2006 by Retail Banker International.
– Kochhar has also consistently figured in Fortune’s list of “Most Powerful Women in Business” since 2005. She climbed up the list debuting with the 47th position in 2005, moving up 10 spots to 37 in 2006 and then to 33 in 2007. In the 2008 list, Kochhar features at the 25th spot.
– In 2009, she debuted at number 20 in the Forbes “World’s 100 Most Powerful Women list”.
– She is the second Indian in the list behind the ruling Indian National Congress party chief Sonia Gandhi at number 13.
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