My pricey buddy Vaghul was a rare diamond of splendorous colors.
He was broadly and rightly revered as an excellent establishment builder, having been the motive spirit in founding a number of reputed establishments spanning a variety of areas – finance, schooling, tutorial analysis and know-how – to call just a few.
‘Outstanding banker’
Vaghul was an excellent banker and to him ought to go the credit score for encouraging and selling a number of entrepreneurs, whose enterprise teams occupy right this moment the highest slots in trade listings. That he did so, inside the stifling confines of a improvement banking establishment and with out ever crossing moral boundaries, is a tribute to his genius.
I used to be privileged to be on the Board of ICICI when it reworked itself from a improvement monetary establishment to a ‘universal bank’ within the late Nineteen Nineties.
That was an unprecedented step.
‘Leadership school’
He steered this audacious transformation by making a galaxy of remarkable leaders whom he recognized, mentored and developed. ICICI turned a management college, whose alumni, like Okay.V. Kamath, Kalpana Morparia, Shikha Sharma, Nachiket Mor and plenty of others, went on to not solely lead establishments, but in addition to rework the panorama of the monetary sector.
The Board conferences of ICICI have been at all times thrilling and educative, as many pioneering ideas – from floating the primary credit standing establishment to launching insurance coverage firms and enterprise capital funds – took beginning there.
‘Master raconteur’
The publish assembly lunches and dinners have been assured to be much more thrilling, as we’d roar with laughter, listening to Vaghul narrate tales, in his inimitable type, of his expertise with wayward politicians, smug bureaucrats and truant businessmen. He was a grasp raconteur.
Vaghul minimize the shrubs and cleared many a brand new path within the monetary sector, which have turn into busy highways now.
‘Faith in research’
His genius couldn’t be contained inside the monetary sector, though that was his principal calling. Being a voracious reader, he might even be stated to be an academician, masquerading as a banker, very profitable at that. Institute of Financial Management & Research, its affiliate, the Krea University, and Pratham, all of which he both based or mentored, stand testimony to his abiding religion that top high quality schooling and analysis are elementary to the realisation of his dream of a New India.
He might have interaction reputed historians in conversations with matching erudition, or touch upon cricket, like an knowledgeable on the game. He might discuss to you each for and towards Advaitha philosophy, like knowledgeable lawyer. Actually, every part round him on the planet aroused his curiosity. His urge for food for studying was insatiable.
‘incredibly simple’
For all his accomplishments, and the honours and accolades he obtained, together with the award of Padma Bhushan, Vaghul was an extremely easy particular person, not surprisingly so, as he was mentored by R.Okay. Talwar, who was a former Chairman of State Bank of India, the place Vaghul started his profession as a probationary officer. Talwar was a rare mixture {of professional} brilliance, humility and ease. Talwar as soon as instructed me that he thought that Vaghul was a greater supervisor than himself. A clear revelation of the greatness of each.
During the final a number of years, we spoke at the least as soon as per week, generally many occasions extra. We would change notes concerning the books that we have been studying or focus on philosophy, politics or individuals. I’d by no means fail to be amazed at his razor-sharp evaluation, his knowledge and the depth of his erudition. A few days in the past, we have been chatting concerning the affect of AI on schooling. I’ve little question he would proceed his spirited conversations with smarter individuals up there, studying and difficult, all along with his depraved sense of humour undiminished.
(The author is the Chairman of Asian Paints Limited)
