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Narayanan Vaghul, the Indian banker credited with building ICICI Bank, is in critical condition. He was the youngest chairman of Bank of India at 44 and was responsible for the return of KV Kamath to India from the Asian Development Bank in the mid-1990s. Vaghul is a recipient of Padma Bhushan in 2010 and has served as a director in several Indian conglomerates.
Renowned Indian Banking Stalwart, Narayanan Vaghul, who played a key role in establishing ICICI as a leading financial conglomerate, has passed away at the age of 88 at Apollo Hospitals in Chennai. He was on ventilator for the past two days and was admitted to the hospital after suffering a fall that rendered him unconscious.
During his decades-long career, Vaghul was instrumental in building ICICI Bank from an early-stage financial institution into a full-fledged bank. He mentored many senior executives at the bank, including the likes of KV Kamath.