From managing finances of India’s largest bank, the State Bank of India (SBI), to now tackling major global challenges such as climate change and inequality as the first woman managing director and chief financial officer of the World Bank, Anshula Kant is one of the most respected bankers who has successfully led teams through several crises over nearly four decades.
Arundhati Bhattacharya, chairperson and CEO, Salesforce India, who was the first woman chairperson of SBI, fondly recounts her experience of working with Kant. “Anshula is a truly motivated person. No matter what assignment she got, she ensured it was successfully carried out. A great team player and a pleasure to work with," Bhattacharya says. Kant served as SBI’s chief financial officer and managing director before she joined the World Bank in October 2019.
Kant’s handling of the stressed asset portfolio helped the bank to reduce gross non-performing assets to 7.5 percent in March 2019 versus 10.9 percent in March 2018, for example. As a result, SBI was favourably placed to tap into growth opportunities when the economy recovered.
The demonetisation phase was another period when Kant’s leadership shone through the chaos of policy flip-flops and agitated customers, and helped SBI glide through the challenge.
“It’s important to be credible, transparent and consistent. Most of all, I think it’s important to be flexible and to always keep learning," Kant says.
“It’s one of the biggest crises we’ve ever faced, and countries need help. There was a lot of strength in the World Bank balance sheet, and we were able to step up and lean forward. We immediately increased our financing capacity for the most vulnerable countries. We put together Covid-related programmes and packages," Kant explains.Click here for W-Power List 2024
Kant oversees risk management and mobilisation of financial resources to meet the organisation’s goal of ending extreme poverty by 2030, boosting overall prosperity, while addressing climate change concerns. Her team seeks to measure the outcome and impact of projects even as it seeks to undertake projects that are scalable and replicable in different parts of the world to solve some of the pressing problems the world is facing.
“We are trying to create innovations through new structures, new products which will deliver more from the same capital. There are a lot of efforts that are going on to make us more efficient in terms of speed, in terms of volumes, in terms of impact at scale, in terms of what we bring," Kant points out.
Uncertainties and challenges notwithstanding, Kant is hopeful of a gradual global economic recovery. “I guess slow touchdown to a soft landing over the next 12 months, maybe," she adds.
In the course of her journey, Kant has learnt to never hesitate to ask for help, and to have self-confidence. “Have the confidence that you will be able to do things and achieve goals," she advises. But most importantly, what pushed Kant to excel in her chosen field was her passion for her work: “When you’re working for 10 to 11 hours a day, it’s important to be interested and passionate about what you’re doing."
First Published: Mar 15, 2024, 17:45
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