September 21, 2023

Introduction

Women have transformed India’s financial industry with their leadership and strategies, shaping its dynamic landscape. These 6 women have succeeded in the finance industry and made significant contributions to the banks they work for. Their contributions have helped India grow in the financial sector.

Women have been top bankers in the country and have also led foreign financial institutions.

Here are the top six powerful women in the financial industry of India. 

Shanti Ekambaram

  • Shanti Ekambaram is a committed, passionate, and resilient woman in the financial industry of India. Despite challenges, she remained strong and inspired women in finance and other fields. 
  • She worked at Kotak Mahindra Bank for 27 years and managed multiple successful businesses. She eventually became the Executive Director and CEO of Kotak Investment Banking. During her time there, she introduced digital banking services and other important projects. 
  • Business Today published her consecutive listings as the “Most Powerful Women in Indian Business” for several years. Recognized in Fortune India’s “Top 50 powerful women in India” and honored as the “CA Woman Business Leader of 2013”. 

Naina Lal Kidwai

  • Naina Lal Kidwai is a 66-year-old chartered accountant in India and a member of the board at Rothschild7 Co India. 
  • Kidwai was the first woman to graduate from the Harvard School and lead an investment or foreign bank in India. She became the CEO of HSBC Bank, becoming the first Indian woman to become head of a foreign bank.
  • Throughout her professional journey, she has worked at various places, 12 years at Grindlays, head of investment banking for north India.
  • She worked at Morgan Stanley for 8 years and had a big impact on India’s banking sector. This led to the creation of JM Morgan Stanley, a partnership with JM Finance. 

Renu Sud Karnad

  • Renu Sud Karnad is a famous Indian businesswoman and the director of India’s biggest mortgage financier, Housing Development Finance Corp.
  • Renu has been crucial for HDFC’s financial operations, guiding it towards success for 30 years. 
  • Fortune India Magazine listed her as “The most powerful woman in business in India consecutively for 8 years. The Wall Street Journal has listed her as one of the “ Top 10 women to watch out for in Asia”.
  • Renu played a very crucial role in getting the merger of HDFC Bank with its parent company HDFC. Renu left important jobs at Maruti Suzuki and ABB India to become a strong woman who can inspire others. 

Kalpana Morparia

  • Kalpana Morparia was a banker at ICICI for almost 33 years and made many noteworthy contributions to its financial industry. 
  • She worked as a chief executive officer of South and Southeast Asia, at JP Morgan. While working at JP Morgan, Kalpana advanced in her career and played a significant role in the company’s growth. 
  • Today she is the CEO of JP Morgan after working and dedicating her life to the financial corporate sector. She is also the Director of Dr. Reddy’s Labs, Bennet, and Colman, CMC limited to Tata consultancy. Her career is inspiring for Indian women who want to achieve success and recognition. 

Arundhati Bhattacharya

  • Arundhati Bhattacharya, CEO of SalesForce, transformed finance early in her career and is a highly influential woman. 
  • During her time as a CEO, she introduced several innovations in the banking sector, especially in digitization. Her clear goals and customer-centric approach led her to become the first female chairperson of the State Bank of India. 
  • Additionally, she worked on enhancing customer service and made various efforts to expand the bank’s global footprint. As a general manager at ICICI, she played a vital role in the legal department. 
  • Forbes magazine named her one of the “Top 50 most powerful women in international business.” Forbes magazine listed her as one of the “Top 50 most powerful women in international business.” Additionally, she authored two books that discuss her life and provide guidance on achieving success as a leader and a woman. The titles of these books are “Indomitable: A Working Woman’s Notes on Work, Life, and Leadership.” 

Madhabi Puri Buch 

  • Madhabi Puri Buch is the first female chair of India’s Securities and Exchange Board. She believes technology can greatly impact finance. 
  • Instead of reading speeches, presenters now use PowerPoint at conferences. They also interact with industry and market participants to gather feedback and improve market policies. 
  • Before becoming the Sebi chief, Buch was the only female member of the regulator till today. As a member, she handled various things which included portfolios.

All in all, the amount of progress that these women have brought to the Indian financial market is remarkable. Their leadership skills and innovative thought processes changed the financial industry for women. Ekambaram’s commitment, Naina’s groundbreaking achievements, Renu’s enduring dedication, Kalpana’s ideal tenure, Arundhati’s visionary leadership, and Madhabi’s technologically driven strategies have not only redefined the financial industry but also served as powerful sources of information for generations to come.

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