Chennai6 hours ago
- copy link
Former ICICI Bank Chairman Narayanan Vaghul passed away in Chennai this afternoon, he was 88 years old. His family informed about his demise.
Narayanan Vaghul’s family said, ‘It is with great sadness that we inform you that Padma Bhushan Narayanan Vaghul passed away this afternoon at Apollo Hospital, Chennai.’ Vaghul is survived by his wife, daughter and son.
Vaghul played an important role in laying the foundation of ICICI Bank.
Vaghul, known as the father of modern Indian banking, played an important role in laying the foundation of ICICI Bank. His career began with the State Bank of India, where his talent took him from a regional branch in Chennai to the central office in Bombay.
At the age of 39, he was made the Executive Director of Central Bank of India and in 1981, at the age of 44, he became the youngest Chairman and Managing Director of Bank of India.
In 1985, Vaghul became the Chairman and Managing Director of ICICI Bank. He made special efforts to take ICICI Bank from a financial institution to the list of the largest private banks in the country.
Narayanan Vaghul was awarded Padma Bhushan in 2009
Vaghul was awarded the Padma Bhushan award in 2009. He was also honored with the Economic Times Lifetime Achievement Award. Apart from this, Vaghul also worked as a director in many Indian companies including Wipro, Mahindra & Mahindra, Apollo Hospitals and Mittal Steel.
Vaghul’s book ‘Reflections’ was published last year.
Narayan Vaghul’s book ‘Reflections’ was published last year. His book was released by Union Finance Minister Nirmala Sitharaman in Mumbai on 28 April 2023. Along with this, many banking giants were also present in that program.
On April 28, 2023, Finance Minister Nirmala released Narayanan Vaghul’s book ‘Reflections’ in Mumbai.
