Anshula Kant- First Woman To Head The World Bank

Women in India today are desperate to make an impact in a variety of sectors and areas while breaking down old barriers. Women have advanced significantly in the business sphere in recent years, both locally and globally. They could have to battle prejudices and still fall short of men in terms of obtaining positions of leadership and small business financing and backing. Few women break this stereotype, either by their willpower or with the support of a loving family. Let's meet Anshula Kant, a strong, spirited woman who has become the first woman to head the World Bank as its Chief Financial Officer (CFO)and Managing Director(MD).

Anshula Kant, the Managing Director of State Bank of India (SBI), is assuming the role of Chief Financial Officer (CFO), of the World Bank. Kant is also the bank's first female CFO. Kant is the World Bank Group's financial and Risk Manager and reports to President David Malpass. Kant brings 35 years of experience in finance, banking, and innovative technology.

Anshula Kant Early Life

Kant was born on September 7, 1960. Her father was an engineer, her father allowed her to choose to be an engineer. Roorkee-born Anshula decided to follow her passion and took up Economics over her father's advice. She graduated from Lady Shri Ram College in Economics and then went on to pursue a post-graduation degree in Economics at Delhi School of Economics. Kant is also a Certified Associate of the Indian Institute of Bankers. In 1983. 

Anshula Kant's Family

She also has a beautiful family. Siddarth, her son, has now settled in New York. Nupur, her daughter, is based in Singapore. Sanjay, her husband is a chartered accountant who practices in Varanasi.

Her Banking Journey

she started her career at SBI as a probationary officer. It is interesting to note that she was told by SBI that she would need to pass more than just part 1 and 2 to become a Probationary Officer. This was because she needed to deal with unions and please bosses in order to manage promotions or transfers

She was the Chief General Manager for the bank in Maharashtra, Goa, and then she became the CEO of State Bank of India SBI Singapore. Later, she became the Managing Director. She was responsible for the launch of retail operations which earned SBI the title of being the first Indian bank to do this in the region.

She has a long career that spans over three decades. Her experience includes cross-border trade, retail banking, corporate credit and banking in developing markets. She also managed the bank's stressed assets, risk, compliance, and other functions. Anshula, the bank's CFO, has overseen $38 billion in revenues and $500 billion in assets. Her administration has seen the bank's capital rise dramatically and she has focused on the bank’s long-term sustainability. The State Bank of India also saw an improvement in asset quality. At the end of March 2019, the gross non-performing assets were at 7.53 percent of gross advances, compared to 10.91 percent in March 2018. Her work in the demonetization phase was also admirable when people flooded the banks with requests for new notes and change.

Anshula debunked many myths in this male-dominated world. In her first days of work, Anshula was told that there was a third part to the banking exam. This was to please the bosses. It was also for managing the unions in order to manage the transfer and promotion issues. She believes this is a myth. Many Indian women quit their careers after marriage or pregnancy due to the added responsibilities. Anshula was determined to keep her career going, and she had the support of her husband, as well as her in-laws. She was married to a Varanasi-based chattered accountant, but she decided to give up her papers when she was transferred from Lucknow. She continued her blossoming journey with the support of her family and SBI residential colony. Anshula realized the difficulties she had as a woman and decided to help other women grow their careers.

Also Read: Kamala Harris – The Pinnacle of Women Empowerment

Anshula Kant's Remarkable Achievements

Anshula Kant, the World Bank Group Chief Financial Officer, and Managing Director was elected to this position on October 7, 2019. She is responsible for the financial and risk management of the World Bank Group. This report to the President. Her responsibilities include oversight of financial reporting, risk management, and mobilization of IDA, among other important management duties.

Ms. Kant's experience at the State Bank of India (SBI) spans more than 35 years. This includes retail and corporate banking as well as mortgage finance and local currency. She also has a wide range of leadership challenges that cover finance, risk, and operations. Ms. Kant was the CFO at SBI and managed revenues of $38 billion and assets totaling $500 billion. She was responsible for the organization's capital base improvement and focusing on long-term sustainability within the scope of her mandate.

From September 2018 to August 2019, she was a Managing Director of SBI and a member of its Board. Ms. Kant was directly responsible for SBI's Risk, Compliance, Stressed Asset Portfolio, and Risk Management.

A Face of Women's Empowerment

When Anshula was CFO & Assistant Managing Director of SBI, there were approximately 46,000 women employees. This represented 22 percent of the bank’s total workforce. The work environment was designed to suit men's needs, from the temperature to the chairs. Anshula introduced changes to the policies of employees, such as leave eligibility and other restrictions to help women continue their careers. SBI granted two years of sabbatical time to women employees in January 2014. This was to help them meet their personal needs such as taking care of elderly parents, children's education, and other responsibilities usually performed by women.

Under her tenure, SBI allowed employees to work from home in May 2017. This would be extended for more than a year for female employees. This work-from-home option is available for all work except customer-handling jobs that can be handled by the banks. The bank created a transfer program for married women employees in order to prevent the husband's job posting from affecting their careers.

Anshula has a remarkable record of managing the largest government bank in the country, making strong economic decisions, and implementing a number of employee benefit policies. She is now changing the course of history at the World Bank.