BT MPW: Pool of women leaders has become richer in last 5-6 yrs, says KV Kamath

KV Kamath, the chairperson of National Bank for Financing Infrastructure and Development (NaBFID), on Saturday said that we have to actively work to get the biases out to build the funnel of women leaders in business. 

Kamath, in a fireside chat with Business Today Editor Sourav Majumdar, acknowledged the role of N Vagul, the former chairman of ICICI Ltd who laid down the foundation for women leaders by opening the doors to them. "That set the ball rolling. You need a funnel. We created the funnel due to the foresight of our predecessor," said Kamath who was the special guest at BT MPW Award night. 

Kamath talked about biases, especially male biases, and family challenges that come in the way of women. "There is no job that a women cannot do," he said.

Kamath, aged 74 years, had made substantial commitment to supporting women as leaders in the financial services business at all levels. He was known for creating a meritocracy culture and promoting gender diversity at ICICI Group.

Kamath believes that women leaders are actively growing up the chain in organisations. "The pool has gotten richer and richer only in the last 5-6 years," he said.

Many women professionals flourished as leaders under Kamath's leadership at ICICI Group.

Zarin Daruwala, whom Kamath gave a challenging assignment at a very young age at the ICICI Bank, is currently the CEO of one of India's largest foreign banks -- Standard Chartered Bank. 

Madhabi Puri Buch, yet another protege of Kamath, recently took over as the chairperson of capital markets regulator, Securities and Exchange Board of India. 

Renuka Ramnath was another woman professional whom Kamath encouraged to build the private equity arm, ICICI Venture. 

Kamath also groomed Vishakha Mulye, the current ED (wholesale banking) of ICICI Bank. Both Ramnath and Mulye are seven-time winners of BT MPW.

In October last year, the government announced the appointment of Kamath as the chairperson of the newly set up Rs 20,000-crore NaBFID. 

On the recent oil price shock due to the Russia-Ukraine conflict, Kamath said that oil prices should correct. "This is otherwise a global problem, which I don't think the West wants to be in," he said.

Kamath is gung-ho on India growth story. "We have the propensity to grow. We have another big driver in terms of digital economy. The rate at which this will grow will be phenomenal," he said.

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