Renowned Banker and ex-ICICI Bank Chairman N Vaghul Passes Away at 88

Renowned Indian banker Narayanan Vaghul, honored with the Padma Bhushan award in 2009, passed away on Saturday. Vaghul had been receiving treatment on ventilator support at Apollo Hospitals in Chennai due to his critical health condition.

According to insiders, condolences will be offered at his residence located at Mezzanine Hall, Bonaventura Apartments, South Canal Bank Road, Chennai, between 5 pm and 8 pm today. He is survived by his wife, son, and daughter.

Narayanan Vaghul made history as the youngest bank chairman when he assumed the position at Bank of India at the age of 44 in 1981. Beginning his career at the State Bank of India, Vaghul later served as the executive director of Central Bank of India at the age of 39. Recognizing his capabilities, Prime Minister Rajiv Gandhi brought him into ICICI.

In 2023, Vaghul published his memoir titled 'Reflections,' offering a detailed account of his experiences spanning decades in India's financial sector. The book features anecdotes about his interactions with colleagues, politicians, bureaucrats, and clients. Vaghul's humility shines through in the foreword, where he mentions his surprise at being prompted to write the book due to his habit of engaging in light-hearted conversations during meetings and lunches.

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