Chanda Kochhar
The story of Chanda Kochhar was amazing, from a common management trainee to one of the most powerful women in the world of global finance. He broke the walls of the gender, made major changes in Indian banking and received great respect for the country and abroad, but then he was accused of corruption and conflict of interest and everything was found in the soil. On July 3, the Appellate Tribunal ruled and convicted him that he had taken a bribe of Rs 64 crore in exchange for a loan of 300 crores to Videocon Group. After this decision, the image of Chanda Kochhar has now officially stained.
Middle class girl to banking queen
Born in Jodhpur in 1961 and raised in Mumbai, Chanda Kochhar’s early life was full of struggles. His mother raised him after his father left. Graduation at Economics from Jai Hind College and then did MBA from Jamnalal Bajaj Institute of Management Studies. During his studies, his analytical skills and focus impressed everyone. In 1984, he started working as a management trainee in ICICI (then it was a development finance institution). At that time, there were rare opportunities for women in banking, so their arrival was a new beginning.
His growth in ICICI was very fast. He shocked everyone with his deep grip in credit, risk and project finance. In the 1990s, the then CEO of ICICI KV Kamath recognized his ability and included him in the team that was working on converting ICICI from a development finance agency to a full-fed bank.
In 2000, when the ICICI was turning into a commercial bank, Kochhar was given the responsibility of its retail business. ICICI’s retail banking business increased rapidly under his leadership. He launched products like home loan, car loan and personal finance in the market with new models and made ICICI a well-known name among middle class. He also prepared risk models so that retail lending could be done on a large scale.
MD and CEO made in 2009
When KV Kamath retired in 2009, Chanda Kochhar became the MD and CEO of ICICI Bank. At that time she was one of the few Indian women who headed a big private bank.
His leadership came at a time when Global Financial Crisis broke the trust of investors. Rumors of bankruptcy were flying on ICICI. At such a time, Kochhar took the front and took the bank out of this crisis with his cold mind and strong decisions.
Kochhar faced the professional difficulties. In 2003, the rumors from Gujarat created a position on the bank -on bank, even then she was part of the team that took over the situation. In 2009, when she became CEO at just 48 years old, a large part of the top management left the bank, but Kochhar rejoined the bank with the help of 4C Strategy (COST, Credit, Current & Savings Account, Capital).
He reduced exposure in risky sectors, strengthened retail portfolio, reduced NPA and invested heavily in technology. This laid the foundation of Digital Transition of ICICI Bank. Later, the bank remained strong despite the crisis of the rupee, the rising bad debt and the strict rules of the RBI.
The face of leadership in banking sector
His success gave him many great respect. In 2011, he was awarded the Padma Bhushan, the third largest civilian honor of the country. Forbes placed them several times on the list of the 100 most powerful women in the world and in 2015 Time magazine included her among the 100 most influential people in the world. She remained the face of not only ICICI Bank, but the face of Indian banking and women leadership for many years.
His time management skill was also very famous. According to a TOI report, she used to work with phone calls even during her journey in her car. When the children were young, she used to try to reach home by 6 pm. Even after becoming a CEO, he did not stop giving time to the family.
How to stain on Chanda Kochhar’s image
But by 2016, the talk of conflict of interests started coming out. In 2018, a whistleblower alleged that Kochhar kept the rules in giving a loan of 300 crores to Videocon Group. It was alleged that her husband Deepak Kochhar’s company took Rs 64 crore from the same group. Investigation was done, Kochhar denied some mistake but she went on leave and resigned from ICICI Bank in October 2018.
In the investigation of CBI and ED, a network of shell companies and fake transactions revealed. Both of them were arrested in 2023 and the case made headlines across the country. On 3 July 2025, the tribunal clearly stated that it was a case of bribery, in which Kochhar took advantage of his position.
Chanda Kochhar’s story is now with two faces. On the one hand, the woman who challenged patriarchy and gave a new height to Indian banking, on the other hand the same woman who misused her strength. The new India can do what the new India can do, shows it and tells how the institutions can fall if morality is missed. In the coming time, Kochhar’s name will be an example and warning.