Recently, ICICI Bank’s former MD and CEO Chanda Kochhar, and her husband Deepak Kochhar were arrested by the CBI. Chanda Kochhar is charged with abusing her power. It is alleged that Chanda Kochhar used her position to financially benefit her husband Deepak Kochhar. On Friday, December 23, 2022, the CBI detained Chanda Kochhar and her husband Deepak Kochhar, the former MD and CEO of ICICI Bank.
In March 2018, Chanda Kochhar was accused of abusing her position to give a pecuniary advantage to her husband. The Videocon group reportedly received a loan from ICICI Bank for a total of Rs 3,250 crore. 86 percent of this debt, or around Rs 2810 crore, was not repaid by the Videocon Group. This debt was classified as NPA in 2017. (Non-Performing Assets). Chanda really served on the committee that authorized the funding of Videocon International Electronics for Rs 300 crore on August 26, 2009, and Videocon Industries Limited for Rs 750 crore on October 31, 2011. The committee’s conclusion went against the bank’s rules and policies. Let’s know who is Chandra Kochi.
Chanda Kochhar Biography:
Chanda Kochhar’s childhood name was Chanda Roopchand Advani, but after marriage to Deepak Kochhar, her name became Chanda Deepak Kochhar. She was born on 17 November 1961 in Jodhpur. By the way, everyone is familiar with this name, but those who are not, tell them that at present the Chief Executive Officer (CEO) and Managing Director (MD) of ICICI Bank are Chanda Kochhar, not only this, ICICI Bank Chanda is also the head of the Corporate Centre.
Chanda Kochhar was born in Jodhpur
Born in Jodhpur, Rajasthan, Chanda completed her early education at St. Angela Sophia School, Jaipur, and completed her Bachelor of Arts from Jai Hind College, Mumbai in 1982. Chanda studied further and studied cost accounting at ICWAI and after that received the J.N. Bose Gold Medal for obtaining the Master’s degree in Management with the highest regard from the Bajaj Institute of Management Studies, Mumbai.
Married to Deepak Kochhar
Chanda is married to wind energy entrepreneur Deepak Kochhar, who is also her business school mates. Arjun, a son, and Aarti, a daughter, are Chanda’s two children. Chanda Kochhar has always dealt with various challenges and has never allowed the idea of failure to cross her mind. As a result, she is currently the CEO of the top bank in the nation and effectively manages ICICI Bank. Today, Chanda’s action is a befitting reply to those who consider women less than men. After all, Chanda Kochhar proved to the world that if you are determined to do any work, then no obstacle of any kind can stop your way.
Chanda Kochhar career
- As a management trainee, Kochhar joined the Industrial Credit and Investment Corporation of India (ICICI) in 1984.
- Kochhar was instrumental in setting up ICICI Bank during the 1990s. She was promoted as Assistant General Manager in 1994 and then as Deputy General Manager in 1996.
- In 1998, She was promoted as General Manager and headed the Key Client Group of ICICI Bank, handling relationships with the top 200 customers of ICICI Bank. She oversaw the ICICI Bank’s strategy and e-commerce units in 1999.
- Under Kochhar’s leadership, ICICI Bank began building the nascent retail business in 2000, focusing largely on technology, innovation, process engineering, and expansion of distribution and scale.
- She assumed the position of executive director in April 2001. Kochhar was chosen to serve as ICICI Bank’s deputy managing director in 2006. Kochhar managed the bank’s global and corporate operations in 2006–07. She served as the bank’s joint managing director and chief financial officer (CFO) from 2007 until 2009.
- In 2009, Kochhar was named the bank’s managing director and chief executive officer, and since then, he has been in charge of all of the organization’s varied activities both domestically and overseas.
- In 2011, she served as co-chair of the World Economic Forum’s annual conference. 2014 saw the awarding of an honorary doctorate to Kochhar by Canada’s Carleton University.
- She was awarded the Padma Bhushan, India’s highest civilian honor in 2011.
- The “Best Retail Bank in India” award and the “Excellence in Retail Banking Award” were both won by ICICI Bank under Kochhar’s direction in 2001, 2003, 2004, and 2005.
- Asian Banker, The Economic Times, and Retail Banker International have all recognized Kochhar as “Business Woman of the Year 2005,” “Business Woman of the Year 2005,” and “Rising Star Award” for Global Awards 2006, respectively. Awarded individuals include “Retail Banker of the Year 2004 (Asia-Pacific area)”.
- In 2009, she debuted at number 20 on the Forbes list of the “100 Most Powerful Women in the World”.
- In 2011 at the Asian Business Leadership Forum Awards, Kochhar received the “ABLF Women of Power Award (India)”.
- In 2015, Time magazine included Kochhar on their list of the 100 Most Influential People in the World. In 2015, she was ranked first on Fortune’s list of the 100 Most Powerful Women in Asia Pacific.
Chandra Kochhar’s net worth
Officials claim that Chanda Kochhar earns a salary of more than 5 crores. Her total net worth, including her assets, is higher than Rs. 75 crore. Right now, Sandeep Bakhshi is the ICICI Bank’s CEO. Chanda Kochhar’s annual base pay is close to three crores.
One of the highest salaries paid to women in India is this one. She is a role model for young women in India. Aside from her job and net worth, she has other sources of income, including investment. Her thinking is one of the primary drivers of her wealth and earnings.