Indian - Businesswoman | November 17, 1966 -
Two eyes are given for a reason. One eye to always look at the opportunity. The second eye to always keep looking at the challenges. Because if you don't balance both, it's very easy to get carried away one way or the other. And it's when you balance the two that you find the most sustainable model.
Chanda Kochhar
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I was only a young girl of 13 when my father passed away from a sudden heart attack, leaving us unprepared to take on life without him. We had been protected from life's challenges so far. But without warning, all that changed overnight.
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She worked hard till she saw all of us through college and we became independent. I never knew that my mother had such a wealth of self-assurance and belief within her.
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Remember that relationships are important and have to be nurtured and cherished. Also keep in mind that a relationship is a two way street, so be ready to give a relationship just as you would expect the other person to be giving to you.
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The restructuring theme can be of various kinds. Some amount of debt gets serviced out of cash flows, some gets back-ended and resolved with sale of non-core assets of the company, and some debt gets converted into equity which might today look like a haircut.
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Lending has come back in retail; it has come back in working capital. It has also come back in other forms, like government contract being given out to companies.
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My priorities are going to be to play a very balanced role in the sense that I have to keep an eye on the challenges in the environment. At the same time, I have to keep an eye on the optimism that is there for India.
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What's important is that we see each year what the opportunities are, and make use of the opportunity.
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Successful strategic vision lay in the fact that we visualized the retail business to be much bigger, ahead of what others thought it to be.
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As we were growing retail, and it was a huge growth phase, it was very important to keep our quality under control. Therefore, it was not just distribution, not just back-office operations, but also the risk-management practices. And these we learned together, supported by technology.
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Our focus is more on secured retail business like housing and car loans. While we will do some unsecured loans - credit cards and personal loans - we will do it primarily with existing customers.
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We believe that rural India is going to be the next driver of growth. You cannot make money overnight there, as you have to set up infrastructure there; the value of transactions is lower - you need a few years before you can really make all those businesses profitable.
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