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New Delhi: Chanda Deepak Kochhar, Set To

New Delhi: Chanda Deepak Kochhar, Set To

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Published by: haphu on Feb 19, 2010
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02/25/2011

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New Delhi: Chanda Deepak Kochhar, set to take over as managing director and chief executive of ICICI Bank, India's largest in the private sector, firmly believes women make better bankers, even if alot also depends on how they use the opportunities that come their way."So far as the financial sector is concerned, I feel women are always better with managing finance,"says the 47-year-old banker who takes charge Friday at the landmark ICICI Bank Towers in Bandra-Kurla Complex in suburban Mumbai."Sometimes women also make it an excuse for not doing certain tasks. But if you want equalopportunity you have to perform equally," Kochhar said in an interview with IANS here before leavingfor Mumbai.According to her, ICICI Bank is an excellent example of equal opportunities as it employs over 10,000women. "So it will be wrong to say they don't get the opportunity. But then it also depends on howefficiently one uses this opportunity."Tracing her own 25-year journey in the institution, Kochhar says it has been full of challenges and alsoexciting - one in which there was a long and continuous process of both personal and professionalgrowth."With my new role these challenges and excitement will be only bigger," says the soft-spoken bankerwho had joined the institution as a trainee executive in 1984 when it was called the Industrial Creditand Investment Corp of India.The priorities ahead are clear for this Jodhpur-born management student and a cost accountant whofigures in Fortune magazine's list of most powerful women in business."There is a strong legacy of ICICI Bank. But we have to mould the structure of our strategy to be insync with the current market situation," she says, and adds: "The main focus will be on retailinvestors."Kochhar says her aim is to increase retail deposits that will be at the core of business growth for thebank, since no revival was possible without this segment. She also says there will be a fresh approachto lending."As I said, our steps will be more measured. You will see many positive changes in the future," shesays. "There will be restructuring of our deposit base. I cannot divulge everything at this moment.You'll have to wait for that. But as I said, there will be positive changes."Kochhar also does not buy the argument that banks were not lending, despite the measures taken bythe country's central bank that has resulted in huge addition to the quantum of money at theirdisposal to extend credit to the corporate sector.
 
"We have large exposures to small and medium enterprises and also to what we call micro, small andmedium enterprises. So it will be wrong to say banks are not lending. In fact, I will say businesses aregoing slow on investment plans," she says."That is the reason they are slow on borrowing."Ask her if ICICI Bank will consider an interest rate cut, another common demand from the corporatesector and households alike, and Kochhar turns a tad more serious and gives an answer that normallycomes from any seasoned banker."Interest rates depend on many factors. Two main ones are inflation that is very stable and liquiditythat is comfortable. There is enough liquidity at present. But there are other issues like fiscal deficitand external borrowing that we have to consider."Does that mean an interest rate cut?"There is room for many corrections," she answers. "You have to wait and watch."Kochhar, nevertheless, believes the Indian economy is on the road to recovery and in a much betterposition than many other countries."We have a very strong domestic market. There is a huge demand. Also, there are clear signs of recovery in sectors like steel and cement. But there are other sectors which will take some time torecover like real estate and auto," she says.
Hi, we're from ICICI. As you know, we're one of the most woman-friendlyorgs. in India, with woman entrepreneurs playing a key role in the Bankssuccess. We believe in gender equality & rewards are based on merit &performance. We understand the personal responsibilities of our womenemployees. Benefits suggested at the time of the conference include a creche,extensively used by male & female employees, & part-time assignments forwomen who are unable to cope with
 
a full-time commitment.
 
The number of women entrepreneurs in India may begrowing, but the urban-rural ratio is still rather skewed as isthe class divide with few women from not-soaffluentfamilies taking to entrepreneurship. However, if given achance as many as 78 per cent of poorer women would wantto turn entrepreneurs, says a TiE-GEM study. Based on thisfinding from their own research, The Indus Entrepreneurs(TiE), one of the country’s largest non-profit networks
 
dedicated to the advancement of entrepreneurship, has roped in some of the most powerful businesswomen in India to help these budding entrepreneurs. The likes of 
Shikha Sharma,Chanda Kochar, Rama Bijapurkar and Anita Ramachandran
have helped launchTiE Stree Shakti—a women’s entrepreneurship platform.The TiE-study revealed that 90 per cent of women at the grassroot level need help in training andeducation to improve their business skills, specially since 78 per cent of them are keen to start a business but need support. “The objective of this initiative is to recognise more women who are ontheir own and introduce them to other like-minded women,” says Shikha Sharma, CEO, ICICIPrudential Insurance.Recently, a Grant Thornton International study also showed that in India only 15 per cent womenhold senior management positions in privately-held businesses with Chennai topping the list at 22per cent followed by Delhi (18). The next 2-3 months will witness TiE chapters across Indiaconnecting with women keen to start their businesses by holding training sessions in 15 cities. TiE isalso planning to set up a fund for women entrepreneurs.
On May 1, Chanda Kochhar became CEO of ICICI Bank, India's largest privatebank and a major player in the Indian economy and beyond. In an interview withKnowledge@Wharton, Kochhar spoke about her success in Indias male-dominated banking world, the challenges women face as they advance in their careers, and what entrepreneurs need to keep in mind as they seek funding.Category :EducationTags :ICICI Bank Chanda Kochhar  Wharton India Economic Forum women careers 
Women's Struggle And Reforms
Though women of India are not at par with her counterpart in Westernworld but she is struggling hard to make her mark in men's world. We cancount on certain names from the British India where women put theexample of extraordinary bravery which even men might not be able toshow. Rani Lakshmi Bai of Jhansi was the one such woman. She was theone who put even British rulers to shame with her extraordinary feats inbattle. She fought for her kingdom, which Dalhousie, British GovernorGeneral, had unlawfully annexed. She was in a true sense the leader of uprising of 1857. There are certain men who took the cause of women inIndia. There have been social reformers like Raja Ram Mohan Roy, IshwarChandra Vidyasagar, Swami Vivekanand, Swami Dayananda Saraswati whohave helped women gain their previous status in society.

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