Qualities of successful women Essay


The part of adult females in the development of the states has been important the universe over during the last hundred old ages. In India, adult females are playing a major portion in the economic development during the last four decennaries. The Indian adult females have bit by bit entered in all the domains and there is no sector where they are dawdling behind.

BFSI – Banking, Financial Services and Insurance sector is no exclusion. BFSI embraces all type of Banking activities, Insurance, Stock Market, Mutual Funds and all sorts of Financial Institutions.

We will write a custom essay sample on
Qualities of successful women Essay
or any similar topic only for you
Order now

An effort is made in this paper to follow the function of adult females in Finance sector and their accomplishments in the last four decennaries.


The primary aim of this paper is to analyze and consolidate the parts of adult females in Financial sector and besides effort to correlate the qualities of adult females that have made them successful in their professional callings in Finance.

The secondary aim is to detail some organisations which have realized this facet and hold given chances to adult females to progress in their callings in Finance.

What is BFSI?

BFSI includes Banking, Financial Services & A ; Insurance. The range for BFSI in India is really promising as on day of the month. Harmonizing to a survey, 51 per centum of the Indian population do non possess bank histories and deficiency entree to fiscal installations. There is a great potency for Bankss in the rural markets.

Though the insurance sector achieved about 15 percent growing rate in the last twelvemonth, India ‘s insurance histories for merely 0.6 per centum of the GDP as against the universe norm of 2.14 per centum. The chief grounds for low incursion are low consumer consciousness, untapped rural markets and forced distribution channels. India ranks 136th on incursion degrees and slowdowns behind China ( 106 ) , Brazil ( 85 ) and Japan ( 61 ) . The U.S is ranked 9 in this respect. The scenario of insurance concern in India is now altering and the insurance concern is turning at an impressive rate. There are 21 Life Insurance and 19 General Insurance companies in both public and private sector put together.

Microfinance establishments provide hapless people with little sums of recognition at sensible involvement rates. The microfinance establishments can be fiscal co-ops, rural Bankss and NGOs. Although recognition is an of import portion of microfinance, it is merely one of the diverse fiscal services that hapless people need to better their lives. Poor people besides need salvaging services, basic insurance options and low-cost remittal systems to outdo pull off their assets and generate income.

How can adult females lend in Financial Sector?

Womans leaders in Finance have taken leading to a new degree. Not that work forces do n’t stand out at being leaders. Harmonizing to a study by New Jersey based Caliper Corporation, a new paradigm is germinating and adult females are in the head of making the same.

Inclusive fiscal growing can be attained if the Bankss touch upon the underside of the pyramid which consists of about 75 per centum of the Indian population. We can state that India is divided into two parts – one group of privileged category of people holding entree to the best of the fiscal installations and another category of deprived people unable to acquire the fiscal installations.

Womans are going active and popular in all Fieldss and the Indian Stock Market is no exclusion. The modern Indian adult females want to salvage money and are besides prepared to take hazards. Womans at place i.e. the place shapers follow the stock market with the aid of cyberspace and put sagely. The place shapers besides look at the family merchandises which are really utile and of good quality and invest in those companies. For illustration, when score brite was introduced in the market, they found out which company introduced the same and invested in that company. The merchandise was a success and they gained from their investings.

Merely a really little fraction of the rural Indian population has entree to the Microfinance services. Loans every bit small as Rs. 5000 can give hapless people a opportunity to put up their ain little concern and make more occupations.

A survey reveals that 11 per centum of the companies across sectors in India had adult females CEOs. 54 per centum of these CEOs are from the fiscal services sector.

Worldwide organisations promoting adult females in BFSI.

Womans Advancing Microfinance International ( WAMI ) launched in 2003 is the lone planetary web of and for the promotion of single adult females in the microfinance industry. One of their nucleus values is to progress and back up adult females ‘s leading in the microfinance industry through instruction and preparation, by advancing leading chances and by increasing visibleness of adult females ‘s engagement and endowment while keeping their work life balance.

In India besides we have organisations to advance microfinance for adult females. The Indian School of Microfinance for Women headquartered in Ahmedabad was started in June 2003 to turn to the capacity edifice demands in the microfinance sector. The School peculiarly focuses upon the lives of adult females who are the primary participants in microfinance intercessions. The School does non look upon microfinance as a agency of poorness relief but besides as a agency for adult females ‘s leading and the edifice of adult females ‘s assets.

Womans in Banking and Finance ( WIBF ) is a non net income professional organisation committed to authorising its members in the banking and finance industry to recognize their full potency. The organisation is headquartered in London and was founded in 1980 by five members viz Jane Bradford, Susan Law, Lorraine Paddison, Margery Povall and Anne Watts. The organisation is run by a extremely professional direction squad comprising of members who give their clip on a voluntary footing. All members are encouraged to fall in the direction squad to develop their undertaking direction accomplishments.

Mann Deshi Mahila Sahakari Bank ( MDMSB ) is a alone concerted bank run by and for adult females in Mhaswad, a small town in Satara District of Maharashtra. This 10 twelvemonth old bank has created 16720 adult females enterprisers in the part around Mhaswad. The bank enjoys an first-class refund rate of 97.5 per centum.

Successful adult females in BFSI.

One Organization in the BFSI sector in India that can tout of encouraging and able to acquire the services of adult females at all degrees including the top direction is doubtless is the ICICI group. K.V.Kamath is one of the lucky individuals to be surrounded by adult females. He has been responsible for authorising many adult females in ICICI.

Out of 11 top direction executives describing to the MD Chanda Kochhar, 3 are adult females. About 40 per centum of the senior direction is adult females and about 25 per centum of the entire staff is adult females.

The current Managing Director of ICICI bank, Chanda Kochhar is known to be an self-asserting adult female who has climbed the ladder in ICICI both the difficult and smart manner. She joined ICICI Bank in 1984 as a Management Trainee. She knew nil about retail banking when she took over the retail operations in ICICI Bank in the twelvemonth 1998 at the age of 36. She was ranked figure 37 in the list of universe ‘s most powerful businesswomen in the twelvemonth 2006.

Shikha Sharma, the current CEO of Axis Bank was the Managing Director of ICICI Prudential and played a major function in the growing of ICICI Prudential. She is an early winner, fast scholar and ferociously competitory. She was responsible for puting up the joint venture with U.K based Prudential and conveying ICICI Prudential in the Indian Insurance Map as the largest private sector insurance company in the state.

The first adult female to lift to a senior place at the bank was Lalita Gupte, who was hired in 1971 and retired as Joint Managing Director. She played a prima function in transforming ICICI in the 1990s, and so started the bank ‘s international concern in 2001, serving abroad Indians and spread outing investings abroad. That concern now accounts for 15 % of ICICI ‘s $ 56.3 billion in net assets. She joined Alstom ‘s Board of Directors in 2010. She is besides the non-executive president of ICICI Venture Funds Management Company.

Madhabi Puri-Buch joined ICICI Bank Ltd in undertaking finance section in 1989. She served as Senior General Manager of ICICI Bank since 2003. She serves as Head of Operations and Group Corporate Brand Officer of ICICI Bank Ltd. She is in charge of Retail Asset Operations and the Product and Technology Group in the Wholesale Banking Group of ICICI Bank. She has been Chief Executive Officer and Managing Director of ICICI Securities since February 1, 2009.

Kalpana Morparia now is the Head of India Operations of JP Morgan Chase & amp ; Co. She joined the legal section of ICICI in 1975 and became a board member in 2001. She was appointed as Joint Managing Director of the bank in 2001. She played a cardinal function in ICICI Group ‘s capital elevation exercising every bit good as the amalgamation of ICICI with ICICI Bank in 2002. After 33 old ages of service with ICICI, she joined JP Morgan in 2008.

Renuka Ramnath was the Head of one of India ‘s largest private equity fund ICICI Venture. She is frequently referred to as the female parent of Indian private equity. She quit ICICI venture in 2009 to setup private financess with former executives of Indian PE industry. Ramnath has been the Managing Director & A ; CEO of ICICI Venture since 2001. During her calling spanning over 20 old ages with the ICICI Group, Renuka has spearheaded assorted concern enterprises. She began her calling at the Merchant Banking division of ICICI and so headed the Corporate Finance and Equities concerns at ICICI Securities, an investing banking JV between ICICI and JP Morgan.

Vishakha Mulye is presently the Managing Director & A ; CEO of ICICI Venture Funds Management Company Limited. Mulye was earlier the Executive Director of ICICI Lombard General Insurance Company Limited and the Group Chief Financial Officer of ICICI Bank Limited. Mulye is a Chartered Accountant and joined the ICICI group in 1993. She has worked extensively in the countries of undertaking finance, structured finance, exchequer, corporate planning and scheme, investor dealingss and declaration of hard-pressed assets. She played a cardinal function in the amalgamation of ICICI with ICICI Bank, which led to the creative activity of the 2nd largest bank in India. Between 2001 and 2005, she set up ICICI Bank ‘s structured finance concern. This pioneering attempt led to the development of an active securitization market in India. During this period, she was besides responsible for ICICI Bank ‘s client-related exchequer and markets operations, capital markets concern and relationships with domestic fiscal establishments and many-sided establishments. Mulye received the award for ‘Most Powerful Womans in Indian BusinessA – 2007 ‘ from Business Today. The World Economic Forum besides selected her as a ‘Young Global Leader ‘ for the twelvemonth 2007.

Renu Challu is the current Managing Director, State Bank of Hyderabad. Meera Sanyal is the Country Head – Royal Bank of Scotland. Manisha Girotra is Managing Director and Chairperson for Swiss bank UBS in India

. Renu Sud Karnad is the Pull offing Director of HDFC Ltd. Naina Lal Kidwai is the Group MD and Country Head of HSBC in India. Ashu Suyash is the MD and Country Head – India of Fidelity International.

Tarjani Vakil, former Chairperson of the Exim Bank, is one of the distinguished Indian bankers. She is the first adult females to head any big bank in India. In 1997, she was recognized by KPMG Worldwide Business as one of the top 50 adult females “ to turn out her heroism ” in the concern.

Through the recent economic meltdown and planetary recession, Reserve Bank of India had two adult females Deputy Governors – Usha Torat and Shyamala Gopinath.

Qualities in adult females that enables them to be successful in BFSI sector.

Retail banking is more of relationship selling instead than transactional selling. Women excel at relationships.

The nurturing and seting attitude of adult females flows into the workplace every bit good.

Womans are more practical and moderate hazard takers.

Womans are good hearers and good scholars.

Womans are more resilient and good at larning from reverses.

Womans display better empathy and are able to put themselves in the places of the clients.

Caliper Corporation, the New Jersey based Management Consulting Firm have made the undermentioned observations based on their survey.

Womans are more persuasive

Womans are speedy to larn from hardship

Women demonstrate an inclusive, squad edifice leading manners of job resolution and determination devising.

Womans are more likely to disregard regulations and take hazards.

Suggestions for farther heightening the part of adult females in BFSI.

The construct of Home Offices should be encouraged so that adult females may

contribute while raising households at the same time

Flexi clip options should be made available to adult females

Affluent Urban adult females should put up NGOs, Travel to the rural parts and

create consciousness about the range and importance of BFSI sector.

Extensive preparation should be given to the rural adult females to take up callings

in finance

The fiscal services companies should aim the rural families

through the womenfolk.

All adult females Regional Rural Banks should be encouraged.


It is observed from the secondary research that more and more adult females are actively take parting and lending to the BFSI sector. Since adult females are more empathic, they can better understand clients. Womans are more balanced and would take deliberate moderate hazards. It is high clip our leaders realize this and leverage this to the growing of our state.

Indian Banks and Financial Institutions with better gender equality on board than their western opposite numbers, scraped through the economic lag unharmed. In the last three decennaries, the gender equilibrium has become reasonably poised.


Hi there, would you like to get such a paper? How about receiving a customized one? Check it out