Chanda Kochhar Quotes
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The biggest challenge for me, for all of us, was that the consumer-credit market was very, very new for India and for ICICI. I was trying to create something that was not just new for me but absolutely unknown to the organization and the country as a whole.
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Every business has to re-think their own business model and say does it meet this DSM test and do their products and services meet the test of being digital, social, and mobile? I think the banks are doing the same.
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I have always been saying that while - the legislative reforms are good, but there are so many low-hanging fruits that we have look for by taking executive decisions. I think the government is actually moving in the right direction.
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The scope of activities for payments banks mainly includes acceptance of demand deposits, issuance of ATM/debit cards, payment and remittance services, and distribution of third-party products.
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I always believe that, as you start out, while you should have a big dream - a big goal - but it's also important to move step by step. So, you know, frankly, if you ask me, when I started as a management trainee in 1984, I don't know that I really thought that I would become the CEO.
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I had to work just as hard as my male colleagues.
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Payments banks can also act as business correspondents of other banks.
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When people come and invest in India, they invest on a certain premise, and the fact that the very premise can change worries them a lot.
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The restructuring theme can be of various kinds. Some amount of debt gets serviced out of cash flows, some gets back-ended and resolved with sale of non-core assets of the company, and some debt gets converted into equity which might today look like a haircut.
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The real underlying value comes if you can put a company back into a running state and it becomes a successful viable entity if it continues to repay loans.
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If we look at India and the Indian demographics and the Indian consumer, I think the Indian consumer is going digital, social, and mobile. They want everything in a digital format, everything available on the go, and we socially connected.
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I think competition is good. It finally delivers the best value to the customer, and I think it keeps all the players on their toes.
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An entrepreneur, whether man or woman, has to be willing to take help, whether financial or technical, to grow his or her business.
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In India, we have the opportunity to give innovation the kind of scale that no other country in the world can. Innovation is a necessity.
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Getting small things like Visa or driving licence should be made easier as we, in financial service sectors, are dealing with financial regulations and tax constraints.
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Thankfully I have an ecosystem of in-laws, parents and husband, who are my rocks.
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The global market does not understand the India risk as well as we do, and therefore, we have the arbitrage facility of making better margin on the same set of Indian firms than what we would have made by giving rupee loans.
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We need to take the country in the right direction, whether it is around administrative policy decisions or legislative changes or ensuring the macroeconomic stability.
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Remember that relationships are important and have to be nurtured and cherished. Also keep in mind that a relationship is a two way street, so be ready to give a relationship just as you would expect the other person to be giving to you.
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Practise and practise to make your dreams turn into reality.
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Take destiny in your own hands.
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There were so many occasions when I wasn't around for my kids or my husband. But we learnt to work around it.
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My belief is India's banking industry will continue to grow at two and a half times the GDP growth rate.
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ICICI has been a meritocracy. So, a huge amount a lot of responsibilities, big roles, challenges, have been given to women, not because they are men or women or so on, but they were just given to people who have - who the organization believes has the capability to perform.