With women empowerment being the theme of today’s banking world, India has stood out in the race because of the representation of women in the top most positions in the top most banks of the country. They take decisions that affect millions of people apart from raising the level of profit for their banks. Under the able leadership of these people, all the banks have flourished and touched new heights. Now, let us see the list of the most powerful financial women in our country who are there to maintain our economy.
The List of topmost women bankers who have made it big in financial world:
The biggest bank in our country is State Bank of India and the most interesting thing is that it is headed by a woman who has recently got an extension for her good work and consistent performance. Apart from her, we have the second largest bank in our country also being headed by a woman in the form of Mrs Chhanda Kochhar. This itself says the importance of women in the banking sector of our country.
Arundhati Bhattacharya The chairman of State Bank of India is like the first woman of Indian commercial banking. She has recently been given the 2nd position in the Forbes List of most powerful women outside the USA. The list is headed by Banco Santander’s boss Ana Botin. Mrs Bhattacharya is the first ever woman chairman of the bank in its 207-year-old history. She joined the bank as a probationary officer way back in 1977 and has been instrumental in building various verticals of the bank such as General Insurance, Mobile Banking, Financial planning etc. She has also taken the battle against bad loans head on. But the biggest success of her term is undoubtedly the merger of the five associate banks with SBI that is going to be a reality very soon after approval from the cabinet committee. Due to her consistent performance, the government has also recently extended her tenure by one year after the last term ended in October 2016. She is the most powerful one in terms of the market value of the organisation she leads.
Chanda Kochhar The second in the line who will closely follow Mrs Bhattacharya will be the MD and CEO of the largest private sector bank in the country i.e. ICICI Bank. She joined ICICI Limited in 1984 and later was elevated to the board of the bank in 2001. She has been phenomenal in her role with the overhaul of the retail business of the country. With $139 billion of business under her belt, she has been ranked 5th in the Forbes List for most powerful women outside the USA.
Shikha Sharma She will be the third in the list with her ranking of 19th in the Forbes List of most powerful women outside the USA. She began her career in ICICI Limited and represented the company in various capacities before joining the Axis Bank. She has been at the helm of the third largest private sector of the bank since 2009 and has made the bank one of the most profitable companies during her tenure with an increase in a number of branches as well as asset creation.
Usha Ananthasubramanian She is the present MD-CEO of Punjab National Bank. Prior to joining the bank, she has been the MD-CEO of Bharatiya Mahila Bank which was a brainchild of the erstwhile UPA Government. She has completed her Bachelors in Statistics and joined Life Insurance Corporation of India in the actuarial department. Later, she started her banking career as a planning officer with BOB. She has been ranked 19th in the list of most powerful women in India as per Fortune List.
Naina Lal Kidwai Naina Lal Kidwai is the present chairman of HSBC India and also the chairperson of FICCI India. She has served in various positions in HSBC as well as other companies. Having an MBA Degree from Harvard University, she has served the banking industry as well as the financial industry in our country for the last few decades. The distinguished lady has also received Padma Shri Award for her contribution to trade and assets in India as well as in other countries.
Archana Bhargava: Archana Bhargava got one of the most unenviable tasks in the banking industry way back in 2013 when she was offered the role of the MD-CEO of United Bank of India. The bank was grappling with rising NPA that almost stifled the growth of the bank. She left the bank in 2015. She got the bank stand on its feet and also turned around the business of the bank. She joined the industry as an officer at PNB and after 34 years at PNB, she got into Canara Bank as an ED in 2011. She is often referred to as the turn-around woman of Indian banking industry.
Vijayalakshmi Iyer: Vijayalakshmi Iyer started her career as a management trainee at Union Bank of India in 1975. She has commerce degree with CAIIB. She has served as the ED of Central Bank of India before joining Bank of India as the MD-CEO of Bank of India. Under her stewardship, Bank of India has increased its business manifold and also has made its presence felt in the already crowded banking sector of the country.
Kalpana Morparia: Kalpana Morparia is the CEO of JP Morgan India. It is the Indian extension of the $2.1 trillion American financial behemoths JP Morgan. She is also a member of the strategic group that takes all the important decisions for the bank. Morparia is a law graduate from the University of Bombay and served at ICICI Group for 30 years before taking over in her current position at JP Morgan India.
Kaku Nakhate: Kaku Nakhate is the present India head of Bank of America Merill Lynch. She has turned around the bank by tripling its balance sheet after taking over. Under her leadership, the bank has been able to carve out a niche for itself in the corporate finance market of the country. Before joining the bank, she has also served as the VP of the JP Morgan Chase and Co.
Indian banking sector is the most burning example of women empowerment in the country. The glass ceiling has been broken so many times in this sector that it has now become common to see women in the top most positions of various leading banks in our country. Not only that these ladies have also managed to make it a point that they get the positions by their own merit and not by any other means. They are an inspiration in themselves to the budding generation of the country. Take heart from their efforts and success and you can also be one of them very soon.
Happy International Women’s Day!! #BeBoldForChange.