Narayanan Vaghul

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Narayanan Vaghul is one of the most eminent bankers of India.

Born in 1936 in a remote village in South India, he was second in a family of eight children. He did schooling in Ramakrishna School, Chennai and later graduated at Loyola College, Madras University in the late 1950's.

He was under age to appear for IAS when he graduated and so he joined as an officer in the State Bank of India. He served in State Bank of India's branches in Trichi and Madras (city now renamed as Chennai)before moving to Bombay (city now renamed as Mumbai) in the 1960's.

As an Officer in the Personnel Department in the State Bank of India at Bombay, his man managmement and problem solving abilities impressed then then State Bank of India Chairman Mr. R K Talwar.

After Mr Talwar's retirement, Mr. Vaghul resigned from the State Bank of India and took up a teaching position at the National Institute of Bank Management (NIBM). Within two years, he become NIBM's its Director.

In 1978, he became the Executive Director at Central Bank of India and served for two years there.

Appointed as Chairman and Managing Director of the Bank of India in 1981, he became one of India's youngest Chairman of a nationalised bank at the age of 44. He was the Chairman of the Bank of India till 1984.

In 1985, he was appointed as Chairman of the then Industrial Credit and Investment Corporation of India (ICICI), the financial institution now known as ICICI Bank. He still continues as it's non-executive Chairman . Under his leadership, ICICI has grown from a development financial instution to India's second largest bank.

He was awarded by the Business Man of the Year in 1991 by Indian business journal 'Business India' and was recently given the lifetime achievement award by the Times pulications.

He is a great orator and his speeches on banking and spritiualism were his specialaities.

Currently (2007) he also serves as a director in many major companies of India including Wipro (since June, 1997), Mahindra & Mahindra, Apollo Hospitals and Mittal steel . He was also a visiting professor [1] of Economics and International Business at the Stern Business School, New York University [2].