Lessons from ICICI…

After a 33-year stint at ICICI Bank, Ms. Kalpana Morparia who is now the CEO of JP Morgan India is not letting her learning at ICICI Bank go waste. Having been at the helm of affairs of India’s largest and fastest growing private sector bank, Ms Morparia knows the tricks of the trade and is practicing all caution in her new role. While most foreign banks are targeting large-scale retail expansion, JPMorgan has no immediate plans to chase retail customers. The financial firm will get into retail banking only when credit bureaus are in place. Credit bureaus collate the credit history of individual borrowers and share them with commercial banks. In case of any default, a borrower gets blacklisted and finds it difficult to access fresh loans. Thus having witnessed some retail bad loans pile up at ICICI Bank, Ms Morparia certainly knows better this time