Women City

Women Honchos of Indian Banks

By SiliconIndia   |   Wednesday, January 25, 2012
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"Women don't wish to have power over men, but over themselves". The fairer sex is not new to Indian banks. Three women chiefs of Public Sector Banks (PSBs) are to be appointed by government, which will help the State owned banks to compete with Private Sector banks.

The Finance Ministry came up with a list which recognized that Central Bank of India, Executive Director (ED) Vijayalakshmi R Iyer as the subsequent Chairman and Managing Director (CMD) of Bank of India. The banks at West Bengal are also going to have women CMDs. Archana Bhargava who is the ED at Canara Bank,will be moved to United Bank of India and Shubhalakshmi Panse, ED at Vijaya Bank will take up the top job at Allahabad Bank.

As women are all set to go shoulder to shoulder with men in the Public Sector Banks, listed below are the six candidates, who are expected to bag up their positions in PSBs. From sic the number can go up depending on the number of women who have sufficient experience and market knowledge. The women who were chosen joined state-banks in the 1980s and 1990s and they carry a bundle of experience behind their names.

Not surprising that more women are topping in PSBs as 17 percent of the working population are women who join PSBs. RK Dubey, ED, Central bank of India will possibly shift to Canara Bank, while S S Mundhra, working in Union Bank of India will be a head in bank of Baroda (BoB). Ashwani Kumar, ED at Corporation Bank is said to take over Dena Bank as Nupur Mitra, CMD, retires this year- end. Shubalakshmi Panse, Vijayalakshmi Iyer and Archana Bhargaya are likely to work with Allahabad Bank, Bank of India and United Bank of India respectively.

Earlier the finance ministry used to pick up candidates by appointing just-promoted CMDs as head of PSBs, but off late they have made some amendments in these provisions, and now a candidate need not have to be a CMD to be a head of a large PSB.

Banking in India is slowly getting dominated by the fairer sex. But it's not the same scenario when compared to western counterparts. It has been said, had the UK banks got more women on board, it would have created a lot of difference in the scenario post-recession. Banking in west is basically a male dominated arena and it's difficult for women to make a niche for in that domain.

The Indian Banking sector was considered to be a male dominated until 1980s, but with more women getting into the sector, the humongous change can be seen in the last three decades. 75 percent of Indian banks in financial sectors have women on their board as top heads or CEOs.

Chanda Kocchar works as the Managing Director and CEO of ICICI Bank, while her former colleagues Shikha Sharma and Kalpana Morparia head Axis Bank and JP Morgan India, respectively. It all started a decade ago when Ranjana Kumar was appointed Indian Bank CMD. While Central Bank of India is headed by H A Daruwala, Dena Bank has a woman CMD in Nupur Mitra. Even the Reserve Bank of India has K J Udeshi to Shyamala Gopinath and Usha Thorat in its work force.

Women can deal better when it comes to retail banking as its more of sustaining a relationship thing. Capable enough to handle such situations at household, they put in their nurturing and adjusting nature into workplace as well.

However, the bottom line is that women are competent to keep in mind what exactly their customers looking for and they show empathy towards their customers that leads the fairer sex to move ahead in banking sector.

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