NEW DELHI: Girish Chandra Chaturvedi, who was on Friday designated as part-time non-executive chairman of ICICI Bank, has a reputation for being difficult and staying unfazed even when confronted with hassle.
Just like he parachuted into the petroleum ministry in May 2011, when the UPA determined to nominate him secretary in the high-profile ministry amid a series of controversies, which noticed Murli Deora making manner for S Jaipal Reddy, the retired IAS officer has landed at the second one biggest lender, when it's facing a crisis. By all accounts, the soft-spoken bureaucrat’s nononsense approach began the much-needed clean-up in the oil ministry, which was noticed to be a hub of corporate lobbying with PSU chiefs and corporate chiefs continuously accused of influencing policies.
Similarly, months ahead of the 2010 Commonwealth Games, he was appointed special director dealing with finance and accounts for the scandal-ridden match, when there have been allegations of grave irregularities.
Seven years later, Chaturvedi unearths himself in a equivalent situation, despite the fact that the environment is way different. Unlike a lot of his colleagues, the UP cadre officer isn't noticed to be anyone who would simply walk into a boardroom. The low-profile bureaucrat opted for a quiet retirement, after serving because the warehousing regulator.
But he's no stranger to the monetary services trade, having served in what's now the dep. of financial services, where he was dealing with the insurance portfolio as joint secretary after which went directly to change into special secretary ahead of shifting to the petroleum ministry.
Insurance, in reality, can be a commonplace link between Sandeep Bakshi, the recently-appointed COO of the financial institution, and Chaturvedi as they information the lender to safety after questions have been raised over its corporate governance policies and the dealing with of the debate involving managing director and CEO Chanda Kochhar, who has proceeded on depart until investigations are completed.
Chaturvedi’s appointment could also be noticed as the federal government getting a stronger foothold at the ICICI Bank board where it already has a nominee, in spite of keeping no shares in the erstwhile monetary institution. Bakshi, who was in the capital remaining week, met senior officials, including some in the PMO and plenty of see Friday’s board determination flowing from consultations with the federal government.
Just like he parachuted into the petroleum ministry in May 2011, when the UPA determined to nominate him secretary in the high-profile ministry amid a series of controversies, which noticed Murli Deora making manner for S Jaipal Reddy, the retired IAS officer has landed at the second one biggest lender, when it's facing a crisis. By all accounts, the soft-spoken bureaucrat’s nononsense approach began the much-needed clean-up in the oil ministry, which was noticed to be a hub of corporate lobbying with PSU chiefs and corporate chiefs continuously accused of influencing policies.
Similarly, months ahead of the 2010 Commonwealth Games, he was appointed special director dealing with finance and accounts for the scandal-ridden match, when there have been allegations of grave irregularities.
Seven years later, Chaturvedi unearths himself in a equivalent situation, despite the fact that the environment is way different. Unlike a lot of his colleagues, the UP cadre officer isn't noticed to be anyone who would simply walk into a boardroom. The low-profile bureaucrat opted for a quiet retirement, after serving because the warehousing regulator.
But he's no stranger to the monetary services trade, having served in what's now the dep. of financial services, where he was dealing with the insurance portfolio as joint secretary after which went directly to change into special secretary ahead of shifting to the petroleum ministry.
Insurance, in reality, can be a commonplace link between Sandeep Bakshi, the recently-appointed COO of the financial institution, and Chaturvedi as they information the lender to safety after questions have been raised over its corporate governance policies and the dealing with of the debate involving managing director and CEO Chanda Kochhar, who has proceeded on depart until investigations are completed.
Chaturvedi’s appointment could also be noticed as the federal government getting a stronger foothold at the ICICI Bank board where it already has a nominee, in spite of keeping no shares in the erstwhile monetary institution. Bakshi, who was in the capital remaining week, met senior officials, including some in the PMO and plenty of see Friday’s board determination flowing from consultations with the federal government.
Government’s firefighter lands in ICICI
![Government’s firefighter lands in ICICI]()
Reviewed by Kailash
on
July 01, 2018
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