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Showing posts from September 23, 2012

How Chanda Kochhar managed 2008 crisis ? . 2008—we had to manage situations where customers were questioning our soundness and we saw abnormal deposit withdrawals . In 2008, when the global financial crisis hit, people started saying, “ICICI is a global bank, so if something is going wrong with the global economy, it will go wrong with ICICI.” And the only way to cope with that was for me to get into every little detail.  We set up a control room, and I was asking very specific questions.  “What is our strategy for small depositors who come to the branches?”  “How will we communicate with our employees?”  “How are we handling the regulators, the large investors, the media?” There were also the operational things. We had to figure out how much cash we needed to make available in each branch and ATM to make sure we didn’t run out if people wanted to make withdrawals. And that meant getting into very precise mathematical calculatio

An interview with Chanda Kochhar September 2012 Chanda Kochhar Managing director and CEO, ICICI Bank Download full interview transcript (PDF–176 KB) Chanda Kochhar, managing director and CEO of India’s ICICI Bank, knows a thing or two about leading in a volatile environment. A longtime ICICI executive, Kochhar helped guide the company successfully through a major strategic shift before being tapped to lead India’s second-largest bank in 2009—during the height of the global financial crisis. In this interview, conducted by McKinsey’s Clay Chandler in May 2012, Kochhar describes the mind-set required to make decisions in a crisis, as well as the risks and rewards of embracing two seemingly contradictory roles: the big-picture company strategist who also excels at the nitty-gritty business of execution. McKinsey : It’s often said that leaders these days must operate in an environment of extreme volatility. Do you agree? How does t

Leading in the 21st century

In today’s volatile environment, leaders of global organizations must master a slate of challenges unseen in business history. In this feature, McKinsey talks with seven leaders and Wharton professor Michael Useem about the new fundamentals of leading in the 21st century.

Walmart Prepares Application to Open Stores in India By 24/7 Wall St. That didn’t take long. Two weeks ago the government of India approved legislation that would permit non-Indian majority ownership of multi-brand retail operations. The new legislation has opened the door to foreign investment in the country, and Wal-Mart Stores Inc. (NYSE: WMT) is getting ready to walk in. The Wall Street Journal reports this morning that Walmart will apply for permission in the next 45 to 60 days to establish stores in India. Walmart already has a 50/50 joint venture with Indian retailer Bharti, but look for the U.S. giant to gain control now that it is possible to do so. Bharti/Walmart operates 17 wholesale stores in India. Although the company’s plans are not final, a Walmart executive said last week it would take 12 to 18 months to open stores in India once the company had permission to do so. One restriction in the new regulations gives the individual states the right to approve or deny permission for foreign-controlled stores to

India grinds in the US pivot

By Ninan Koshy South_Asia/NI25Df01.html The January 2012 Pentagon document on Strategic Guidance, entitled "Sustaining Global Leadership: Priorities for Twenty First Century," has inaugurated a new cold war in the Asia-Pacific region between the United States and China. The document affirms that the United States will of necessity rebalance, or "pivot," towards the Asia-Pacific region. The goal of the rebalancing - American "global leadership" - is a fancy name for empire, maintained by military superiority.  The document gives a prominent place for India in the US strategy, which came as a surprise to many observers. While India is singled out with specific reference to strategic partnership, long-standing allies such as Japan, Australia, and South Korea are clubbed together under "existing alliances." In his maiden visit to India in the first week of May, US Secretary of Defense Leon  Panetta piled on, call

China's security boss surveys Hindu Kush

By M K Bhadrakumar For such a high-level exchange after such a pronounced gap of nearly half a century, Beijing actually said very little indeed about the unannounced four-hour visit to Kabul on Saturday by Zhou Yongkang, the ninth ranking member of the Politburo and China's security boss - although it pointedly took note that the "last [such] visit was made by late Chinese leader Liu Shaoqi in 1966 when he was the President of China".  Zhou's senior status make Beijing's reticence seem all the more curious, particularly as the Hindu Kush and the adjoining Pamirs and the Central Asian steppes are nowadays teeming with the "foreign devils on the Silk Road".  An air of suspense hangs around Zhou's visit, especially since his itinerary originally didn't include the stop-over in Kabul. He was to  have proceeded to Ashgabat, Turkmenistan, following a two-day visit to Singapore, but diverted to Kabul


B.RAMAN   Brajesh Mishra, who was National Security Adviser to ShriAtalBehari Vajpayee between November 1998 and May 2004, passed away on the night of September28,2012. He was 84 and belonged to the 1951 batch of the Indian Foreign Service. 2.He became famous in May 1970 when he was heading the Indian Embassy in Beijing as Charge d'Affaires. At the traditional May Day function at Beijing, Mao Dzedong shook hands with Mishra,  conveyed his greetings to our Prime Minister and President in that order and said:"We cannot go on quarrelling like this. We must become friends again. We will become friends again." 3. Mishra sent a detailed report on it to the Ministry of External Affairs.A few days later, an account of Mao's friendly references to India, which came almost eight years after the Sino-Indian war of 1962, leaked out to the Indian media which added some masala to it while flashing it, saying that Mao smiled at Mishra when he made his