ICICI Bank: Narayanan Vaghul was called Bhishma Pitamah by Anand Mahindra. He played an important role in making ICICI a bank. Besides, many women including KV Kamat were also prepared for leadership roles.
ICICI Bank: Banker Narayanan Vaghul, a veteran name of the Indian banking sector and Padma Bhushan awarded, has passed away. He breathed his last in Chennai at the age of 88. He was on ventilator for two days in Apollo Hospital, Chennai. Narayanan Vaghul is credited with taking ICICI Bank to the top. He started his career with State Bank of India (SBI). He was made the youngest chairman of Bank of India at the age of only 44. Mahindra Group Chairman Anand Mahindra used to call him Bhishma Pitamah.
The responsibility of ICICI was entrusted to Rajiv Gandhi’s government.
He was made the head of ICICI in Rajiv Gandhi’s government. He played an important role in making this private sector bank a giant. According to the report of Economic Times, he fell unconscious in his house. After this he was brought to the hospital. Narayanan Vaghul was awarded the Padma Bhushan in the year 2010 in the Trade and Industry category. He also released his memoir named Reflections in the year 2023. In this he wrote about his decades of experience in the banking sector.
Played an important role in making ICICI a bank
The teacher and public sector banker was handed over the reins of the then Industrial Credit and Investment Corporation of India (ICICI) in the 80s. He did excellent work as MD and CEO of ICICI and gave birth to ICICI Bank. Today this ICICI Bank is working successfully. He played an important role in taking this financial institution forward. He left his post in 1996. He remained non-executive chairman of the board till 2009.
Many women were prepared for leadership roles
It is said that during that time Narayanan Vaghul was preparing KV Kamath to become the next CEO. She prepared women for leadership roles in the bank. Under his leadership, future financial leaders like Kalpana Morparia, Lalita Gupte, Shikha Sharma and Renuka Ramnath were prepared. All of them worked on senior positions in various companies.
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