Achievements and accolades

She is a picture of professionalism, grace and dignity personified. Ranjana Kumar, chairman and managing director, Indian Bank, is the first lady to head a nationalised bank, lending her unique touch to whatever assignment she has taken up. Working her way up to the top by dint of sheer merit and hard work, Ranjana's foray into banking was not premeditated.

A gold medallist who graduated in Public Administration, Ranjana was one of those bright students to get a job offer from the Bank of India. A couple of interviews later, she was recruited as a probationary officer in 1966. "It was a lot of hard work. We had limited staff but that gave us plenty of insight into the real world and helped us develop tremendous patience. As there was no formal training, one burnt one's fingers and learnt work the hard way," she reminisces.

Steadily climbing the corporate ladder, she rose from probationary officer to become senior vice-president and chief executive, U.S. operations. "That was a challenging assignment. When you are abroad, you not only represent the bank but also the country. The Federal Reserve is very tough while assessing your work and knowledge, and for the first time Bank of India got a strong rating from the Federal Reserve auditors, a very big recognition", she recalls.

Shortly after her return to India, Ranjana assumed charge as executive director, Canara Bank, and was soon designated chairman and managing director. Her tenure saw remarkable growth in business. She took over as chairman and managing director of Indian Bank in 2000 and under her chairmanship, the Bank recorded impressive results for the year ended March 2001.

"I am not saying every branch should do everything. But that banks in residential areas should concentrate more on savings deposits while those in commercial areas should concentrate on commercial business /current accounts. Restructuring of any financial organisation takes a minimum of three years. However, ever since we initiated the restructuring plan we have been achieving our target every quarter." There are other intangibles such as the public image of the bank and the morale of the staff, which she feels has improved.

Talking about the challenges facing the banking industry, she says, "Today, a banker will have to keep in close touch with his customers and their problems and adopt a constructive approach specially when the economy is going through ups and downs. The customer on his part will have to be very transparent with the banker."

According to Ranjana, the major strength of the public sector banks is their workforce. "Our other strength is the network of branches. With the recent CVC guidelines, at least 70 per cent of our branches have to be computerised. Public sector banks are also becoming conscious of the fact that in the face of severe competition they need to improve their service. Today's customer is very choosy about service. However all over the world the spreads are coming down considerably as are profit margins, so its service at what cost and at what terms which really determines who comes out the winner.

"With credit offtake not picking up, a majority of banks are talking of retail products but eventually one area which needs to be looked into is infrastructure development. You need big banks to take up these big projects, whether it's a port or road or highway development. When you are looking at financing huge projects for infrastructure, it is very difficult for smaller banks and in the long run we are looking at things like universal banking and eventually mergers."

So where does Ranjana Kumar go from here? "I am only thinking about this assignment at this point. I have never planned my future." Ranjana is one of the fortunate few who have not had to contend with gender discrimination. "I have been asked this question many times. Perhaps, one of the most difficult times was when I got my first transfer. I understand I was the first lady to be transferred in the Bank of India. It looked impossible for me to continue then but I somehow made it."

She believes one of the most important skills of a leader is to effectively communicate. "The U.S. stint improved my communication skills and interaction with top level executives increased my confidence."

She attributes her success to the support of her family. While her husband Nandkumar, a businessman, is based in Hyderabad, Ranjana has had to relocate periodically. `We come from a joint family, whose help I had till the children grew up. If it hadn't been for them, I wouldn't be where I am today. It was tough for my children and I often felt guilty but I would be constantly in touch with them and they knew why I was working."

While she was interested in activities like debates, elocution, essay writing, Ranjana was also into music and dance. A trained Hindustani vocalist (``I also learnt Kathak"), she completed the Sangeet Bhushan and Sangeet Visharat exams conducted by the Lucknow University in music and dance. Ranjana travels extensively and puts in 11 hours of work a day. She unwinds by watching TV, taking long walks or catching up on the lives of her husband and two children. A deeply religious person, she is a keen student of Vedanta. She says, ``As you go up the ladder you need to read all this to realise the temporary nature of everything in life and the fact that you must have your head on your shoulders and feet on the ground and not get swayed at any time.''

SUDHA UMASHANKER

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