Mr. Harsha Vardhana , IBS Bangalore (’02) has been working with Citibank for 4 years after a 15 month stint with ICICI Bank. He is currently an Acquisition Head with Citibank. Heading a team of 15 Acquisition Managers and Relationship Managers. Responsible for meeting the branch balance sheet growth plan by sourcing new to bank accounts by leveraging internal databases, organizing micro marketing events & also ensuring cross sell of insurance and investments through Citigold wealth management.

A very systematic person, Harsha is always open for new ideas. He is someone who likes to take new challenges & balances work & personal life giving equal importance to both. He believes that “there is no second in your life where there is no pressure. I have always enjoyed working under pressure situation, as it gets the best out of you.” On the family front Harsha says “It becomes really tough in such a competitive world to balance out work and family. However I have been quite lucky to have a wonderful wife, who is also from the same industry and my parents who were always there for us. We try and spend the entire weekend together at home and spend most time of the evening with our one year old daughter,” who apart from soothing massages is the best stress buster for Harsha.

Harsha shares the unique features of the progress in financial sector “may be of some interest to this audience.
First, financial sector reforms were undertaken early in the reform cycle.

Second, the reforms process was not driven by any banking crisis, nor was it the outcome of any external support package.

Third, the design of the reforms was crafted through domestic expertise, taking on board the international experiences in this respect.

Fourth, the reforms were carefully sequenced in respect to instruments and objectives.

In terms of assets, the share of foreign banks has roughly been around a quarter within the non public sector banking category. We are dominant in certain segments, such as, the Equity market, the forex market and the derivatives market, accounting for over half of the off-balance sheet exposure of commercial banks. The RBI had, in February 2005, laid down clear and transparent guidelines which provide a roadmap for expansion of foreign banks.

As it stands at present, foreign ownership in domestic banks is quite significant. In several new private banks, this share is well over 50 per cent; these banks account for around half of the total assets of domestic private banks. Even in several public sector banks, the extent of foreign ownership within the private holding is close to that of the domestic private holding.

It is widely acknowledged that India is the repository of the best of human skills, especially in the financial sector.

The technological competence of the Indian workforce is perhaps presently part of folklore.

The present levels of growth optimism about the economy suggest that India is expected to remain one of the important growth drivers of the global economy in the near future. The financial infrastructure and regulatory framework in the country are broadly on par with those prevailing internationally.”