She got a standing ovation at The Telegraph She Awards 2018 last month when she was inducted into the Hall of Fame. From studying English literature to being appointed as the chairman of State Bank of India — the first woman to achieve the feat — it has been a long and eventful journey for Arundhati Bhattacharya. She spoke to t2 on the challenges she overcame and the signs of a good leader.

Why did you choose banking after studying English literature?

Opportunities in the private sector were very limited in the ’70s. You had to know people there. After completing my postgraduation in 1977, the only option I had was to sit for either civil services or banking exams where you are assessed on your merit. The civil service exams required knowledge of a subject other than languages. As a student of English, it required a lot of preparation. But banking had no such limitations. You needed to sit for exams in English, general knowledge and logic, which I thought were easy. That’s why I opted for banking exams.

What were the early challenges in your career?

There were quite a few of them. I had to learn banking itself. In those days bankers had to sit for internal examinations that gave one a grounding of company laws, The Indian Contract Act, Negotiable Instruments Act and basic accounting. So during my probation, I had to study hard and work hard simultaneously. But when we got our final posting, I found most people who had scored well were absorbed in the credit division. 

However, I was chosen for the foreign exchange department that was the next best thing after credit. I really don’t know why I did not get credit. It can be either a case of discrimination or because of my literature background. People may have thought that I would not be comfortable with numbers, but that’s hardly fair when you choose a career in banking. I really had no problem with numbers. 

Over the years I have faced many challenges. But every discrimination or obstacle can be overcome if you work hard enough to create a good reputation for yourself. If you are in the same organisation for years, your reputation precedes you.

Does a female professional have to work twice as hard to prove herself?

It’s not that. Men are often apprehensive of taking women colleagues in their team as they feel the woman will prioritise her family and may not be available during a crisis. We need to change this impression. A woman needs to make a difference when she is at work. Don’t allow your absence to be noticed. You should train your team so well that when you are not there your team can sort of make up for your absence. On the other hand, when you are there keep adding value to your team’s output so that people notice that you are doing something special. 

What qualities should a true leader have? 

If you are good leader, you should be able to listen. A good listener also takes pains to understand what one is really trying to say. Listening gives a leader newer ideas. Secondly, a leader should lay out macro goals and give people the space to perform. He/she should delegate the right people for the right job and for that one needs to trust the right people. You cannot have square pegs in round holes. When you make maximum use of your team’s strength, you are increasing the efficacy of your organisation as well. 

Lastly, a true leader needs to look a little ahead and interpret a scenario before it unfolds. That way his/her team will also be ready for what’s going to come and the organisation will get a head start.

Your first reaction to a problem?

It depends on what the problem is. The first thing you need to do is sit down and understand the structure of the problem and why it has occurred. Then, chalk out an action plan. There is no point in simply just flipping your lid. You need to sit down and take a few deep breaths and start working on it. Different problems should have different responses. But one response should be constant — staying calm.

How have you handled the changes in the banking industry?

Changes don’t come cold. It comes over a period of time. So if you are far-sighted you will be ready for any change. None of the changes in the banking sector have ever shocked me. We have continuously changed our style of working to be where we are today. We may be looking at digitalisation today and there was a time when we were still getting used to our computers. The first time I started using a personal computer was in 1996. I did not know a thing about it. But I enjoyed learning new things and evolving with time.

How difficult was it juggling home and work?

Juggling home with work will always pose a challenge to anyone. It is not easy. I faced difficulties too, but none were insurmountable. My family had to make compromises. I had to make compromises. But if you can hang in there, things do work out in the end.

What’s your vision for the banking sector?

This sector is evolving very rapidly. Technology is going to have a greater impact on this sector. So many non-banks are also in the business these days. Managing everything will be a huge challenge. Then there are regulatory challenges. So many stringent regulations are coming up these days. It is important to be compliant, otherwise you run the risk of financial and reputation loss. The banking sector will see more use of digital, robotics and artificial  intelligence in the future. Transactions will be more and more self-service. Bankers will be required in only advisory roles. The human element will not be done away with in this sector but it must go beyond helping out in mere transactions. We have to look at banking as a service that enables people to plan and organise their financial affairs. We need to evolve towards that.

What is your dream?

I want to do a Phd in banking now. It is very much on my cards though I don’t know when I will get cracking. I would also love to travel more. I have travelled a lot in the last few years but that has always been for work. And when you are working, you don’t get to see a place too much. I have loved travelling since my childhood. It’s been a while since I have travelled for fun. I would love to start that. I want to be part of a place and understand its pulse, not just 
visit it.

What is your message for Arundhati Bhattacharya? Tell t2@abp.in