Indian women are
looking to make an impact across a range of industries and areas, while
breaking down barriers. In recent years, women have made significant
progress in business, both locally as well as globally. They may have to
overcome prejudices, but they still fall behind men when it comes to securing
small business financing and support and leadership positions. This
stereotype is not broken by women, except with the help of their loved ones or
willpower. Let's meet Anshula Kant,, a strong and spirited
woman who became the first woman to lead the World Bank in their Chief
Financial Officer ( CFO) and Managing Director(MD).
Anshula Kant is the Managing Director of State
Bank of India. She will now assume the role of Chief Financial Officer (CFO) of
the World Bank. Kant is also the first female CFO. Kant reports to
President David Malpass as the World Bank Group's Financial and Risk Manager.
She has 35 years of experience in banking and finance and is an innovator in
technology.
Early Life
Kant was born September 7, 1960. Kant was
born September 7, 1960 to an engineer father. Anshula, a Roorkee native,
decided to follow her heart and study Economics. After graduating
from Lady Shri Ram College of Economics, she went on to earn a
post-graduation in Economics at Delhi School of Economics. Kant
is also a certified associate of the Indian Institute of Bankers. 1983.
Anshula Kant's Family
She is also blessed with a wonderful family. Siddarth is
her son and has settled in New York. Nupur is her son. Sanjay is
her husband, a chartered accountant, who practices in Varanasi.
Her Bank Journey
She started her career as a probationary
officer at SBI. Interesting to note is that SBI told her that she needed
to pass more than part 1 and 2. To become a probationary officer, it was not
enough. She needed to work with unions and please bosses to manage
promotions and transfers.
After serving as the Chief General Manager of
the bank, Maharashtra, Goa and, she was appointed CEO of State
Bank India SBI Singapore. She was later promoted to
Managing Director. She was responsible to launch retail operations,
earning SBI the title as the first Indian bank to do so in the region.
Her long career spans more than three decades. She
has experience in cross-border trading, retail banking and corporate
credit, as well as bankingin emerging markets. She was also
responsible for managing the bank's stressed assets and risk management,
compliance, as well as other functions. Anshula, the bank’s CFO, managed
$38 billion in revenue and $500 billion of assets. Her administration has
seen the bank’s capital increase dramatically. She has also focused on the
bank’s long-term sustainability. The State Bank of India saw an
improvement in asset-quality. The gross non-performing assets at the end
of March 2019 were 7.53 percent of gross advancements, as compared to 10.91% in
March 2018. It was admirable that she worked in the demonetization phase,
when people flood the banks with requests to get new notes and money.
Anshula dispelled many myths in this male-dominated
industry. Anshula was told by her bosses that there was a third
section to the banking exam. This was to please her bosses. It was
also necessary to manage the unions and deal with transfer and promotion
issues. This is a myth, she believes. Many Indian women give up their
career after having children or marrying. Anshula was determined not to
give up on her career and had the support of both her husband and her in-laws. She
was married to a Varanasi-based chattered accounting, but she decided not to
keep her papers after she was transferred to Lucknow. With the support of
her family, and SBI's residential colony, she continued her
blossoming path. Anshula recognized the challenges she faced as a woman,
and decided to help others women succeed in their careers.
Anshula Kant's Remarkable
Achievements
Anshula Kant is the World Bank group Chief Financial Officer and Managing Director. She was elected to
this office on October 7, 2019. She is responsible for managing the
financial and risk aspects of the World Bank Group. This is her report to
the President. Her responsibilities include overseeing financial
reporting, risk control, mobilization of IDA and other important
management duties.
Ms. Kant has more than 35 years of experience
at the State Bank of India. This experience includes corporate and retail
banking, as well as local currency finance and mortgage financing. She
has also faced a variety of leadership challenges, including those involving
finance, risk and operations. Ms. Kant, who was also the CFO of SBI,
managed assets worth $500 billion and revenues totaling $38 billion. She
was responsible for improving the capital base of the company and ensuring
long-term sustainability within her scope.
She was the Managing director of SBI from
September 2018 to August 2019 and a member its Board. Ms. Kant was
responsible for SBI’s Risk, Compliance and Stressed Asset Portfolio Management.
A Face for Women's Empowerment
There were 46,000 female employees when Anshula
was the CFO and Assistant Managing Director at SBI. These women made up 22
percent of total bank workforce. From the temperature to the chairs, the
work environment was created to meet men's needs. Anshula made changes to
the policies for employees, including leave eligibility and
other restrictions to allow women to continue their careers. In January
2014, SBI gave two years of sabbatical to female employees. This was to
assist them in meeting their personal needs, such as caring for elderly parents
or educating children.
SBI granted employees the right to work
remotely in May 2017 under her leadership. Female employees would have the
option to work from home for a longer period of time. The work-from-home
option can be used for any work, except for customer-handling jobs that are
handled by banks. To prevent husbands from posting jobs that could affect
their careers, the bank established a transfer program to assist married women
employees.
Anshula's remarkable track record includes
managing the biggest government bank in India, making economic
decisions and implementing employee benefit policies. The World
Bank is changing its course thanks to her.
Tags:
first female cfo, world bank, women
in india, chief financial officer
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