INSUBCONTINENT EXCLUSIVE:
Girish Chandra Chaturvedi, the new non-executive chairman of ICICI Bank, brings with him rich experience in general administration and the
financial sector, with sensitive assignments including Joint Secretary, banking and insurance, and additional secretary for financial
economics from the London School of Economics, joined the Indian Administrative Service in 1977 and was allotted the Uttar Pradesh cadre
along with his batch-mate Cabinet Secretary PK Sinha
sensitive investigations such as the CAG audit and probes by various agencies into the affairs of the Commonwealth Games.
As petroleum
secretary, he adopted a liberal approach and was actively involved in setting in motion the process of gradually increasing diesel rates
every month until they reached market levels and could be decontrolled
executives who have worked with him recall Chaturvedi as an upright man, who patiently listens to all sides without being very assertive,
He would harbour no bias, not get influenced by any pressure group
Everyone would have good things to say about him
secretary.
Chaturvedi left a similar impression in the financial world, recalls SB Mathur, former chairman of LIC
independent director soon after Sandeep Bakhshi was made chief operating officer as chief executive Chanda Kochhar went on leave because of
a probe into an alleged conflict of interest.
Bakhshi and Chaturvedi have known each other for long and said to have the bandwidth and
rapport needed to steer the bank out of the situation it faces
former bureaucrat as chairman, sources said.
Chaturvedi recognises the challenges that his new job brings, but he is optimistic about ICICI
Bank dealing with its problems and moving on
Incidents keep happening, but basically we have to learn lessons from them, we have to rectify, and move ahead
many allegations and media scrutiny.
He was Special Director General (Finance Accounts) in the Commonwealth Games 2010
In this capacity he facilitated probes by the Central Vigilance Commission, Enforcement Directorate, Central Bureau of Investigation and
Income Tax authorities.
His administrative experience includes sought-after positions such as CEO of Greater Noida, commissioner of Lucknow,
and stints as collector of Saharanpur, Meerut and Muzaffarnagar
He has also been the chairman of the Warehousing Development and Regulatory Authority.
In the finance ministry he was involved in drafting
the Insurance Act Amendment Bill to facilitate level playing field for the private sector and proposing increase in foreign equity limits to
49% from 26% in the insurance sector
Assurance Company, United India Insurance Company, Agriculture Insurance Co
of India Ltd, Institute of Banking Personnel Selection and National Insurance Academy Pune.
