Former Corporation Bank Chairman K. Ramamoorthy passes away

Team Udayavani, Nov 30, 2024, 2:50 PM IST

K.R. Ramamoorthy, a veteran banker with over five decades of experience in the financial sector, passed away on Saturday, November 30 morning in Bengaluru.

Born on July 8, 1940, Ramamoorthy is credited with having provided transformational leadership to two commercial banks in India, viz., Corporation Bank and ING Vysya Bank Ltd., at different periods of financial sector liberalization.

He served as Chairman and Managing Director of Corporation Bank from 1990 to 1997 and later as Chairman and CEO of ING Vysya Bank (1997–2001), which later merged with Kotak Mahindra Bank. He continued as the non-executive Chairman of ING Vysya Bank until June 2010.

Ramamoorthy also worked as an advisor to CRISIL (now S&P Global) for three years, guiding the development of credit risk rating models for SMEs and their implementation in commercial banks. Earlier in his career, he worked in industries such as pharmaceuticals, engineering, entertainment, and consumer product marketing with Lipton.

A trusted figure in the banking community, he served on key RBI and SEBI committees, including the Verma Committee on Bank Restructuring.

An alumnus of Delhi University and Madras University, Ramamoorthy held degrees in Arts and Law and was a Senior Fellow of the Institute of Company Secretaries of India. He was widely respected for his visionary leadership and vast expertise.