Chanda Kochhar facts for kids
Quick facts for kids
Chanda Kochhar
|
|
|---|---|
 |
|
| 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 Chanda Advani on 17 November 1961) is a well-known Indian banker. She was the head of ICICI Bank as its managing director (MD) and chief executive officer (CEO) from 2009 to 2018. She left her role in 2018 after some concerns were raised about her decisions and how they related to her personal connections. Later, the bank ended her employment, and this decision was supported by the highest court in India.
Contents
Early Life and Education
Chanda Kochhar was born in Jodhpur, Rajasthan, India. Her family was from the Sindhi community. She went to school at St. Angela Sophia School in Jaipur.
Later, she moved to Mumbai. There, she attended Jai Hind College and earned a degree in commerce from the University of Mumbai. After finishing her first degree in 1982, she continued her studies. She learned about cost accounting and also earned a master's degree in management studies from the Jamnalal Bajaj Institute of Management Studies at the University of Mumbai. She received special awards for her excellent performance in her studies.
Career Journey
Starting at ICICI (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 worked on evaluating and overseeing large projects. She looked at projects in different industries like textiles, paper, and cement.
Building ICICI Bank (1993–2009)
Chanda Kochhar played a very important role in creating ICICI Bank in the 1990s. In 1993, she was chosen as one of the main team members responsible for setting up the new bank. She was promoted to assistant general manager in 1994. Then, in 1996, she became a deputy general manager.
In 1996, Kochhar led a new group within ICICI Bank. This group focused on building expertise in important industries like power, telecom, and transportation. In 1998, she became a general manager. She was in charge of managing relationships with the bank's top 200 clients. By 1999, she also handled the bank's strategy and e-commerce sections.
Under Kochhar's guidance, ICICI Bank started its retail banking business in 2000. This part of the bank focused on using technology and new ideas to grow. 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 served as the bank's chief financial officer (CFO) and joint managing director.
Leading the Bank (2009–2018)
In 2009, Chanda Kochhar was appointed as the managing director and chief executive officer of ICICI Bank. In this role, she was responsible for all of the bank's operations in India and 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 organization brings together leaders from about 70 of the world's largest financial institutions. 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 the Institute of International Finance. Kochhar was also part of the Prime Minister's Council on Trade & Industry. She was a co-chair of the World Economic Forum's Annual Meeting in 2011.
In 2014, Carleton University in Canada gave her an honorary doctorate degree. This was to recognize her important work in the financial world. It also honored her strong leadership during tough economic times. In 2011, she received the Padma Bhushan. This is one of India's highest awards for civilians.
In October 2018, she stepped down from her role as MD and CEO of ICICI Bank. This happened after new concerns were raised about her decisions. After an investigation, it was found that she had not followed the bank's rules about avoiding conflicts of interest. Her employment was then ended. She tried to challenge this decision, but the Supreme Court of India did not support her petition.
Achievements and Recognition
Under Chanda Kochhar's leadership, ICICI Bank received many awards. The bank won "Best Retail Bank in India" several times. It also received the "Excellence in Retail Banking Award." These awards were given by The Asian Banker.
Kochhar herself received many personal awards. She was named "Retail Banker of the Year 2004" for the Asia-Pacific region. The Economic Times named her "Business Woman of the Year 2005." Retail Banker International gave her the "Rising Star Award" in 2006.
Chanda Kochhar has often been listed among the "Most Powerful Women in Business" by Fortune magazine since 2005. She also appeared on Forbes' "World's 100 Most Powerful Women list." In 2009, she was ranked number 20. In 2011, she was featured in Business Todays "Most Powerful Women – Hall of Fame." She was also on Bloomberg Markets "50 Most Influential People in Global Finance" list.
In 2011, she received the Padma Bhushan, India's third-highest civilian award. She also got the "ABLF Woman of Power Award (India)." In 2013, Forbes named her the most powerful businesswoman in India. India Today also included her in their list of the 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 listed among Forbes Asia's "50 Power Businesswomen." She was also on Forbes' list of "The World's Most Powerful Women in Finance."
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. This award came from the Woodrow Wilson International Center for Scholars in Washington, D.C., US. She was the first leader to receive an award in this category. Also in 2017, Fortune ranked her 5th in their 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 the wind energy field. They met when they were studying business. They have two children, a daughter and a son.
See also
