Sri K R Ramamoorthy: The Humble Visionary Who Empowered Generations of Bankers | A Guiding Light of Integrity, Innovation, and Inspiration
NV Paulose, Chairman, Global TV +91 98441 82044
Sri K R Ramamoorthy (KRR), the transformational Chairman and Managing Director (CMD) of Corporation Bank, left an indelible mark on India’s banking sector. His passing on November 30, 2024, marked the end of an era. A visionary leader, mentor, and institution builder, KRR’s contributions not only transformed Corporation Bank but also set benchmarks for excellence across the Indian banking landscape. He had nurtured many entrants in banking in those days to become authentic bankers and powerful brands in the banking industry.
The Architect of Transformation
When KRR took over as the officiating CMD, Corporation Bank was in a survival struggle of its identity. It was one of the smallest public sector banks in India, with limited resources and looming threats of a merger. In a significant meeting with the Reserve Bank of India (RBI) Governor, KRR was advised to merge the bank with a larger entity to ensure its survival. However, KRR had a different vision. He believed in the bank’s potential to thrive independently.
The Ullal Conclave held at the Summer Sands Beach Resort on the outskirts of Mangalore was a turning point in the history of Corporation Bank. KRR brought together senior management, union leaders, and key stakeholders to conduct a comprehensive SWOT analysis. The conclave resulted in a unanimous decision to take on a transformational journey that turned Corporation Bank into a highly efficient and competitive entity. The Ullal Conclave remains etched in history as the transformational conference that revitalized the bank.
Team Banking and Innovative Thinking
His Visionary Leadership had encouraged Team banking wherein an Innovative approach is introduced from the beginning of a loan process. Possibilities and Strategies an encouraged to be discussed in teams. It had brought in efficiency and transparency as innate qualities in banking. He was an ardent believer of transparency in banking. He was an innovator too with eyes focused to the future of banking with a heartbeat that could hear every byte in the banking landscape.
He brought team banking into practice. When you see a team interacting with you today, while you are about to discuss on a new idea or a new banking possibility; better know, it was a legacy brought into Under KRR’s leadership. Every aspect of a new possibility is discussed in detail. Secrets are opened up but mysteries are created by giving scope for the younger blood to make the impossible possible.
Corporation Bank became a shining example of efficiency, earning the name “Public Sector Private Bank.” His innovative strategies distinguished the bank from its competitors and set new standards for the industry. Mr. K R Kamath, former Chairman of Punjab National Bank recalls the moments KRR introduced niche products, internalized cash management services (CMS), and empowered employees through capacity-building initiatives. His performance recognition schemes and famous “Blue Circulars” fostered a culture of transparency and excellence. By implementing robust systems and processes, he ensured that growth was sustainable and risks were mitigated. KRR emphasized importance of transparency and accountability. He set clear benchmarks in governance.
KRR in banking industry was like Sateesh Dawan in India’s space mission. He was a mentor who nurtured talent and inspired his team to excel. His practical wisdom and ability to lead by example left a lasting impact on those who worked with him. He was keen at every aspect of the conduct of his team including the dress code suiting to different occasion and purposes. Several stories are recalled to illustrate his spectacular approach to leadership building.
Transparency and clarity in Communication was very important to him. He had insisted the team on keeping the board fully informed with every aspect of the decisions taken and risks undertaken. He advocated for detailed analysis and timely disclosures always. His approach was applauded in the banking industry in silence. What he had practiced became a cornerstone of the bank’s operations and a guidance of even the competing bankers.
Open discussions and welcoming criticisms was another strategic methodology taught by the approach of K R Ramamoorthy. He insisted not only to form various committees to discuss major decisions but also to involve critics to become part of the discussions. What otherwise would have been a chanting on many ears was brought onto the table of discussion and to the process of decision making. He had taught his younger colleagues about how to transform internal critics into stakeholders and the ways to foster collective ownership and shared wisdom.
His meticulous preparation for presentations and hands-on understanding of field roles underscored his commitment to excellence. Even after becoming the top in the order of banking, he had continued his practices that he had being a novice in banking. He took every meeting serious and had rehearsed for it in small teams and also in front on himself on the mirror. No error was encouraged on ground.
His was a Lasting Legacy. His influence extended far and wide. All of them nurtured by him had turned to become doyens in Banking. They went on to lead various public sector banks. This was the profound impact of his leadership.
Even after retiring, he encouraged employees to uphold the values of competence, commitment, and integrity. He was happier to be known as a thread that had made many pearls to become part of a garland. His humility and his ability to credit his team for collective achievements made him a beloved leader. Mr. K.R. Kamath, who was one among his distinguished mentees, eloquently describe him as a “visionary leader” who had shaped the careers of countless professionals.
KRR’s leadership principles, innovative strategies, and mentorship remain a guiding light for the Indian banking sector. He was a Mentor beyond Measure. It was felt by even the onlookers to the banking scenario in those days. Corporation bank was a happening place. Every day was a conference day and every point was an opportunity for innovation. He had ears to hear everyone and he taught them the art of hearing as equal to teaching them the art of presentation.
He was an art of articulation and had a heart of contemplation. He was a contented person who was not impressed by the count of currency in personal life. His ways of meticulous attention in detail on every insistence on preparation, and ability to transform critics into collaborators made him an unparalleled leader.
Sri K R Ramamoorthy’s life and career exemplify the qualities of a visionary leader, mentor, and institution builder. His ability to transform challenges into opportunities, foster a culture of excellence, and inspire a generation of banking professionals ensures that his legacy endures. Mangalore, which was the cradle of banking, is sure to become an alumni Head Quarters for the Banker Legends and to become a brain centre for various strategic interventions.
The Admiration on to the Pioneer: Mr. Ananda Naik’s Perspective
During a recent interaction, Mr. Ananda Naik, Assistant General Manager of Union Bank, spoke with enthusiasm about K.R. Ramamoorthy. He described Ramamoorthy as someone who possessed the rare combination of strategic acumen and empathetic leadership. “Listening to him speak was an experience in itself,” said Mr. Naik. “We used to come a long way just to hear him. He had a way of connecting with people, professionally and personally as well. That’s what made him an extraordinary leader.”
Mr. Ananda Naik’s admiration is rooted in Ramamoorthy’s ability to inspire his team while maintaining a laser-sharp focus on achieving organizational goals. He fondly recounted how Ramamoorthy’s decisions were often a step ahead of the times, making him a true pioneer in the Indian banking landscape.
KR Ramamoorthy’s leadership style was deeply rooted in the art of building a strong foundation for the future expansion. He had emphasized long-term goals, sustainability, risk management, and team inclusivity. As Mr. Ananda Naik aptly put it, “A new project is like building a new house; the foundation has to be strong. KR Ramamoorthy’s ability to lay that foundation, both figuratively and literally, is what made him a leader we could all look up to.”
The Human Touch in Banking
What set K.R. Ramamoorthy apart from many other leaders was his ability to connect on a human level. While he was a banker par excellence, his interactions were marked by genuine empathy and care. His is a Lasting Legacy. Countless and enormous contributions of Shri. KR Ramamoorthy extend far beyond the numbers and accolades. His impact vibrates in the values he instilled, the people he mentored, and the institutions he strengthened. Leaders like him remind us that banking is not just about financial transactions but also about building trust, fostering relationships, and empowering people, communities and the nation.
His legacy is one of passion, purpose, and unparalleled excellence. Destiny had saved him twice from death before he finally welcomed it wholeheartedly on 30 November 2024. Once he was saved from Mumbai Terror attack on 26/11 at the Taj Mahal Palace Hotel. Another was also in Mumbai were a bomb blasted at a place that he had left few minutes before the blast. The legend KR Ramamoorthy drew immense strength from his faith in Goddess Karpagambal, who helped him remain calm and composed during every crisis. His smile will strengthen those who had seen him at least once in their lifetime for sure. The power of purpose!
