आकस्मिक बैंकर और परोपकारी एन वाघुल का 88 वर्ष की आयु में निधन हो गया

आकस्मिक बैंकर और परोपकारी एन वाघुल का 88 वर्ष की आयु में निधन हो गया

BackBack N Vaghul, accidental banker and philanthropist, dies at 88

Renowned Indian banker Narayanan Vaghul, former chairman of ICICI Bank, has passed away at 88, leaving behind a legacy of transformative leadership and mentorship in the financial industry.

  • Business
  • 139
  • 18, May, 2024
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Sampda Gupta
  • @SampdaGupta

N Vaghul, accidental banker and philanthropist, dies at 88

Legendary Indian banker and former chairman of ICICI Bank, Narayanan Vaghul, passed away in Chennai at the age of 88, as announced by his family. Vaghul, a recipient of the Padma Bhushan in 2009, leaves behind his wife, daughter, and son. Vaghul's journey into the world of banking wasn't conventional. Initially aiming for a career in civil services, circumstances led him to take an exam for the State Bank of India (SBI) instead. This twist of fate set the stage for his illustrious career in the financial sector. After nearly two decades with SBI, Vaghul transitioned to various roles in different banks, including the Central Bank of India and Bank of India. His significant move came in 1985 when he joined ICICI Ltd, a leading development bank at the time, as its chairman. Under his leadership, ICICI underwent transformative changes, paving the way for its evolution into a financial powerhouse. Vaghul's influence extended beyond his executive duties. He played a pivotal role in mentoring several prominent figures in the industry, notably K.V. Kamath, who succeeded him at ICICI. Kamath acknowledges Vaghul as his mentor, crediting him for instilling a culture of innovation and scale within the organization. Industry leaders paid heartfelt tributes to Vaghul, recognizing his profound impact on Indian finance. Anand Mahindra, chairman of the Mahindra Group, reminisced about Vaghul's instrumental role in steering Mahindra World City, Chennai, during its nascent stages. Despite facing skepticism, Vaghul's unwavering belief in pioneering initiatives like this exemplified his visionary outlook. Niranjan Rajadhyaksha, a prominent columnist, hailed Vaghul as a titan of Indian finance, drawing parallels with other stalwarts who shaped the country's financial landscape. Vaghul's contributions extended beyond individual organizations; he chaired committees that played crucial roles in opening up India's money market, contributing to the nation's economic growth. Respected figures like RBI Governor Shaktikanta Das also lauded Vaghul's visionary leadership and significant contributions to the financial sector. His legacy is not only defined by professional achievements but also by his compassionate demeanor. Colleagues remember Vaghul as approachable and empathetic. Despite his seniority, he maintained an open-door policy, fostering a culture of inclusivity and respect within the workplace. His commitment to philanthropy transcended monetary contributions, emphasizing the importance of personal engagement and meaningful impact. In a poignant reflection on philanthropy, Vaghul highlighted the need for genuine involvement beyond financial donations. His words echo a deeper understanding of social responsibility, emphasizing the significance of active participation in creating positive change. Narayanan Vaghul's legacy reverberates through the corridors of Indian finance, leaving an indelible mark on institutions, colleagues, and the community at large. His visionary leadership, compassionate nature, and unwavering commitment to excellence serve as guiding beacons for future generations in the financial world.

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Sampda Gupta

  • @SampdaGupta