in 1975 in the legal department. In 1985, when S. S. Nadkarni, the Chairman of ICICI, became the Chairman of IDBI, there was much speculation about his successor. The announcement of Narayanan Vaghul as the new Chairman was met with keen interest. I vividly recall his first day at our Churchgate office in Mumbai. In an era when banking was conservative and senior leaders donned
