A Quote by Chanda Kochhar
ICICI Bank was the first bank to recalibrate its ATMs for 2000 and then also for 500 rupee notes, and now we have some ATMs which give out 2000, 500, 100 - all of them.
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I swung from one place to the next, sometimes backward, sometimes forward, capitalizing on my own momentum, knowing that at some point my arms—or, more accurately, my quivering bank balance, accessed through foreign ATMs—would give out, and I’d fall to the ground.
India did not innovate with the ATMs. But when we brought ATMs into India and made the machines talk in 15 regional languages to the people in rural India, we got millions of transactions on the ATM.
Normally, we define banks as being either retail or corporate, but ICICI transformed itself from a corporate bank into a retail bank and, now, a universal bank.
The World Bank is the monopoly provider of poverty data and, partly due to a leadership change there, the World Bank's reporting has been heavily on the rosy side since about 2000. The Bank's cultivation of an upbeat picture affords a very interesting lesson in statistics and how you can, depending on which numbers you present and how you present them, create a more positive or more negative impression of the evolution of poverty.
Ex-Im Bank doles out billions of dollars of loans and insurance subsidies every year and has become the poster child for corporate cronyism in Washington. Think of the bank as food stamps for America's Fortune 500 companies.
Money is created through bank debt. When you go for a mortgage through a bank, they give you $100,000 to buy a house and basically send you out into the world to bring back $200,000 in the next twenty years. The first $100,000 is principal, and the second is interest.
What we've done last night is what I call pushing back the risks..If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself? If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders.
If I wanted to connect like I do now, I'd have to write 500,000 letters, get 500,000 stamps, send them out and wait for them all to come back. This stuff is instantaneous. I can see if someone is having a bad day and send them a smiley face and have an effect on them. It's fun, but it's also a very powerful thing.
When commercial banking opened up for the private sector, I set up the retail-banking division for ICICI and grew it substantially. I then ran the international side of the ICICI Bank for a few years.
If there was a payment to the bank due, and we needed shoes, she'd get the shoes, and then deal with them guys at the bank. I don't mean she wouldn't pay the bank, but the children always came first.
Since 2000, we have lost 2.7 million manufacturing jobs, of which 500,000 jobs were in high-tech industries such as telecommunications and electronics.
If bankers can push the loans and make more profits for the bank, they get paid higher bonuses. They often also get stock options. If the bank goes under, they get to keep all of these salaries and options - and the government will bail out the bank. These guys will take their money and run, which is pretty much what they're doing now.
I want to work in a bank, definitely. Hopefully, my acting career will go well. But if it doesn't, I go to a bank. If it does, then even at the age of 40, I will still go to a bank, but I have to work in a bank, because I'm really fond of taxation and accounts and investments and all of that. So I will do it. At some point, I will, yes.
Choicelessness brings you to the whole. Choice is always of the part, necessarily so. And then one person goes from one choice to another, becomes a driftwood - from this bank to another bank, from that bank to this bank. This is how you have been moving, down the ages, for so many lives
As a matter of fact 25% of our U.S. investment banking business comes out of our commercial bank. So it's a competitive advantage for both the investment bank - which gets a huge volume of business - and the commercial bank because the commercial bank can walk into a company and say, "Oh, if you need X, Y and Z in Japan or China, we can do that for you."
My experiment in money exchange was the temptation to set up a bank. The absence of any Islamic banking was also another factor in establishing Al-Rajhi Bank, which is now the world's biggest Islamic lender by market value.
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