Of diamonds, saris and banking with Chanda Kochhar

Given the fact that the whole world is currently thinking of money — the presence or lack of it — Chanda Kochhar is the woman of the moment, having being announced as the person who will take over from KV Kamath as CEO, ICICI Bank.

Stepping into his shoes will be no mean task. Ask the lady who wears shoes often — ‘I prefer the open-ended ones’ — what is the biggest challenge she will face in the current scenario and she replies, “The challenge will be how to keep a balance between caution and optimism. The environment is volatile, but you can’t ignore the fact that it will change.”

The lady will take over from a man who filled the canvas of the bank with his presence. In many ways they are similar for as she points out, “Like him, I too go by my gut feeling. You cannot always be ruled by data, otherwise analysis will turn into paralysis. At some point, you must look at facts and take a call.”

From Jodhpur (where she was born) to Mumbai (where she is now based), Chanda has come a long way.  The erstwhile topper says, “As a child, I was very studious and hardworking. But this did not mean that I did not have fun. I had a big group of friends. We would play basketball or watch movies on Sundays.”

The person who influenced her the most then was her father Prof Roopchand Advani who was the principal of an engineering college in Jaipur, where she schooled. “That strengthened my focus on education and career,” she acknowledges. “And when we shifted to Mumbai (after her father passed away), we soon adjusted to a different lifestyle here. In Jaipur everyone knew everyone, here it takes time for anyone to know anyone.”   

She has been with the bank for two decades and more, and  through her demanding career, her husband Deepak and two children Arti (20) and Arjun (13) have been extremely supportive. “The kids learnt do things on their own,” she says. “I expected and got much more from my mother,” she says.

In her off-time she loves watching Hindi movies — the latest flick she has seen is Rab Ne Bana Di Jodi. She also enjoys shopping with her daughter. “I love saris — silks, cottons, crepes…any kind — they are so graceful. Even abroad, I wear a sari. At Davos, I am in saris and not western business outfits.” And of course, she confesses, “Diamonds continue to be my favourite accessories.”