Chanda Kochhar facts for kids
Quick facts for kids
Chanda Kochhar
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| Born |
Chanda Advani
17 November 1961 |
| Alma mater | Jai Hind College Jamnalal Bajaj Institute of Management Studies |
| Spouse(s) | Deepak Kochhar |
| Children | 2 |
Chanda Kochhar (born 17 November 1961) is a well-known Indian banker. She was the top boss, known as the managing director (MD) and chief executive officer (CEO), of ICICI Bank. She held this important role from 2009 to 2018.
She had to leave her position in 2018 because of questions about a possible conflict of interest. This means there were concerns that her personal connections might have influenced some bank decisions. Later, ICICI Bank ended her employment. This decision was supported by the Supreme Court of India.
Contents
Early Life and School
Chanda Kochhar was born in Jodhpur, Rajasthan, India. Her family belonged to the Hindu Sindhi community. She went to St. Angela Sophia School in Jaipur.
Later, she moved to Mumbai for her college studies. She attended Jai Hind College and earned a bachelor's degree in commerce from the University of Mumbai. After finishing her first degree in 1982, she continued her studies. She learned about cost accountancy at the Institute of Cost Accountants of India. She also earned a master's degree in management studies from the University of Mumbai at Jamnalal Bajaj Institute of Management Studies. She received special awards for her excellent performance in her studies.
Career Journey
Starting Out (1984–1993)
In 1984, Chanda Kochhar began her career at the Industrial Credit and Investment Corporation of India (ICICI). She joined as a management trainee. In her early years, she helped evaluate and keep track of big projects. These projects were in industries like textiles, paper, and cement.
Building ICICI Bank (1993–2009)
Chanda Kochhar played a key part in setting up ICICI Bank in the 1990s. In 1993, she was chosen as one of the main team members to create the new bank. She quickly moved up the ranks. She became an assistant general manager (AGM) in 1994. Then, she became a deputy general manager (DGM) in 1996.
In 1996, Kochhar led a new group at ICICI Bank. This group focused on building expertise in important industries. These included power, telecom, and transportation.
By 1998, she was promoted to General Manager (GM). In this role, she managed relationships with ICICI's 200 biggest clients. In 1999, she also took charge of the bank's strategy and online business sections.
Under her guidance, ICICI Bank started its retail banking business in 2000. This part of the bank focused on serving everyday customers. They used new technology and smart ways of working. In April 2001, she became an executive director.
In 2006, Kochhar was appointed as deputy managing director of ICICI Bank. From 2006 to 2007, she managed the bank's international and corporate businesses. From 2007 to 2009, she was the bank's chief financial officer (CFO). This meant she was in charge of the bank's money. She was also a joint managing director.
Leading the Bank (2009 to 2018)
In 2009, Chanda Kochhar became the managing director and chief executive officer of ICICI Bank. She was responsible for all of the bank's many operations. These included its work in India and in other countries. She also led the boards of most of the bank's smaller companies. These included major private sector life and general insurance companies in India.
Kochhar was a member of important business groups. These included the India–Russia Business Leaders Forum and the US-India CEO Forum. From 2015 to 2016, she was the president of the International Monetary Conference. This group brings together leaders from large financial institutions around the world. She also served as the deputy chairman of the Indian Banks Association. She was on the boards of the National Institute of Securities Markets and Institute of International Finance. Kochhar was also part of the Prime Minister's Council on Trade & Industry. She co-chaired the World Economic Forum's Annual Meeting in 2011.
In 2014, she received an honorary doctorate from Carleton University, Canada. This was to recognize her important work in banking. It also honored her leadership during tough economic times. In 2011, she received the Padma Bhushan. This is one of India's highest awards for civilians.
On 4 October 2018, she stepped down from her role as MD and CEO of ICICI Bank. This happened after a new complaint from someone who wanted to remain anonymous. After an investigation, it was found that she had not followed the bank's rules about conflict of interest. This means she did not properly share or avoid situations where her personal interests could affect her work. Because of this, her employment was ended. She tried to challenge this decision in the Supreme Court, but her petition was not accepted.
Awards and Recognition
Under Chanda Kochhar's leadership, ICICI Bank won many awards. It was named "Best Retail Bank in India" several times. Kochhar herself received "Retail Banker of the Year 2004" for the Asia-Pacific region. She was also named "Business Woman of the Year 2005" by The Economic Times.
Kochhar was often listed among Fortune's "Most Powerful Women in Business." She appeared on this list every year since 2005. In 2009, she was ranked number 20 on the Forbes "World's 100 Most Powerful Women list." She was the second Indian woman on that list. In 2014, she was ranked #43, and in 2015, she moved up to #35. In 2017, she was ranked #32, the highest among five Indian women on the list.
In 2011, she was also featured in Business Todays "Most Powerful Women – Hall of Fame." She was also on Bloomberg Markets list of the "50 Most Influential People in Global Finance." In 2014, she received the ASSOCHAM Ladies League Mumbai Women of the Decade Achievers Award.
Forbes named her the most powerful businesswoman in India in 2013. India Today also included her in their Power List of 25 most powerful women in India for three years in a row.
In 2015, Time magazine included Chanda Kochhar in its list of the 100 Most Influential People in the World. That same year, she was ranked first in the Fortune List of 100 Most Powerful Women in Asia Pacific.
In 2016, she was 40th on India Today's 'High and Mighty Power List'. She was also 22nd on Forbes Asia's '50 Power Businesswomen List'. Forbes also listed her among 'The World's Most Powerful Women in Finance' at number 10.
In 2017, Business World magazine featured her as an "evergreen woman leader." In May of that year, she received the Woodrow Wilson Award for Global Corporate Citizenship. She was the first leader to receive an award in this category. Also in 2017, Kochhar was ranked 5th in Fortune's list of 'Most Powerful Women in business outside the U.S.'.
Personal Life
Chanda Kochhar lives in Mumbai. She is married to Deepak Kochhar, who is an entrepreneur in wind energy. They met when they were studying business. They have two children, a daughter and a son.
See also
