Ashok Ogra
It is said that bureaucracy defends the status quo long past the time when the quo has lost its status. No wonder, the term ‘bureaucrat’ often conjures images of red tape and resistance to change.
However, Meleveetil Damodaran’s career in the government is a tale of unwavering commitment to excellence and a deep-seated desire to make a tangible difference.
Damodaran’s career as an IAS officer began in the Manipur-Tripura in 1971, where his talents quickly propelled him to the position of Chief Secretary at a remarkably young age. His tenure in various capacities, including top positions at UTI, IDBI, and SEBI, is marked by a series of transformative contributions to the Indian administrative and financial landscape.
‘The book ‘the turmeric Latte: M. Damodaran – exceptional story of exemplary leadership- As His Colleagues See Him’ affectionately curated by Dr. Dinesh Tyagi, truly unfolds Damodaran’s illustrious career through the eyes of those who have been a part of his professional orbit. This compilation is not just a narrative of Damodaran’s professional milestones but a window into his leadership philosophy, characterized by innovation, empathy, and integrity.
In the words of Dr. Tyagi it is a collection of the events, episodes and their personal experiences, and how he influenced their life and brought significant transformation in the institutions he worked with.
The contributors discuss in vivid details Damodaran’s accomplishments and his leadership style. One learns how Damodaran encountered and overcame challenges at various junctures of his career.
Rajeshwar Rao who retired as Secretary to GOI reveals in an eloquent manner an interesting facet of Damodaran’s style of functioning: “when he became the chief secretary, he ensured that a probationer was received by a protocol officer at the airport, given the posting letter/order as assistant collectors, allotted suitable accommodation and other logistic requirements were also taken care of”. He goes on to add Mr.Damodaran managed to navigate the complex political and administrative challenges with incredible skill and grace. Rao narrates an incident how Damodaran discarding police escort met with agitating and violent tribals to resolve their dispute with non-tribals.
The famous Bollywood dialogue Main Sarkari Afsar Hoan, Farz Mera Dharam Hai comes to mind when reading Sushil Kumar, retired Secretary, GOI: “Mr. Damodaran’s personal handling of the humanitarian crisis of people’s displacement during Bangladesh war and the migration of Chakmas cemented the compassionate component in his choices/ decisions during the later part of his official journey… Despite being at the top, he is God gifted with the ability to seamlessly connect with the people at the bottom end of the social segment.”
His leadership style was shaped by the wide range and depth of his personal experiences. This process of transformation allowed him to develop a unique style of leading, drawing from the lessons and insights gained through his life’s challenges and triumphs.
Reading Dr. Krishna Kumar of Rubber Board gives us a glimpse of the social architect in Damodaran who supported the setting up of the Rubber Plantation Development Scheme in the North East – resulting in the industry generating revenue of over 1400 crores in 2021, thus benefiting thousands of poor workers.
Damodaran’s grasp of financial sector is legendary. Perhaps, it has something to do with his having joined SBI as a probationary officer before clearing IAS in 1971.
The ex CMD of Indian Bank, MBN Rao highlights the key role Damodaran played in promoting social banking by PSBs aimed at financing to the down trodden to promote social justice.
Dr. Tyagi who too belonged to Manipur-Tripura cadre of IAS, has had a successful innings of working in financial sector including CEO of IL&FS. He provides a close up of Damodaran’s style of functioning in the chapter titled’Mr.Damodaran-A Professional Thinker and An Institution Builder’. From addressing the issue of setting up a holding company for all public sector banks to resolving NPAs, Damodaran was always thinking out of the box. He prepared a detailed note that was appreciated by the then RBI Governor. “During the meeting itself, Mr. Damodaran called me, introduced me to the Governor and mentioned that the notes on ARC and Holding company were prepared by me. I was director in the ministry and was working under him. Extending credit to subordinates for the good work is a rare quality of Mr. Damodaran, Dr. Tyagi fondly recalls.
Dr. V.K. Cherian Varghese who retired as Chairman of Union Bank of India, credits Damodaran with restoring investor confidence in UTI. “Damodaran got the large investments in unlisted companies and guaranteed schemes which offered specified returns transferred to the Specialized Undertaking for UTI created by the GOI. UTI was able to pay undivided attention to its mutual fund role. Investors were back at UTI with their old mutual fund. Damodaran’s mission was hailed as a successful turnaround story in the financial sector.”
Rehman Imtaiyazur of UTI further adds that it was Damodaran’s emphasis on team work and building shared ownership of issues that created a vibrant organization- UTI- AMC. Prof. G. Sethu of IIM too echoes similar sentiments and remarks that the way Damodaran resolved the crisis in a short period is a great lesson in financial market crisis management.
His tenure at SEBI is celebrated for his groundbreaking reforms in the Indian stock market, ensuring investor protection and enhancing the integrity of financial markets. He is credited with Corporatization and Demutualization of all 18 Indian Stock Exchanges, Derivative Market Reforms and many other measures to protect the interests of the investors.
His mantra, “Mere Angan Mein Tumhara Kya Kaam Hai,” reflects his unwavering commitment to his principles, even in the face of potential interference.
My first meeting with Damodaran took place in 1986 when he was posted in Doordarshan as Dy. Director General (Administration). Belonging to the program staff, I was pleasantly surprised to find him a charming, personable, self-deprecatingly unassuming person, and a delight to talk with on a wide array of subjects. The relationship with him has only grown over these years and I am privileged to enjoy his warmth and hospitality.
Damodaran was deeply moved by the plight of Kashmiri Pandits when militancy forced them to flee the valley in 1990. As Joint Secretary in the Ministry of Information & Broadcasting, he took personal interest see that many AIR/Doordarshan staff working in the valley were adjusted in other Stations/ Kendras in neighbouring states.
Humility, Benevolent, Integrity, Empathy, Non-Judgmental … are some of the qualities that Divyani Garg ascribes to Damodaran. She would know it better as she has been working for the last 15 years in EXCELLENCE ENABLERS- an organization set by Damodaran aimed at championing the cause of Corporate Governance.
Damodaran is a multifaceted person knowledgeable in various subjects. He has a fine polemical and persuasive eloquence. He expects those who work with him to keep their minds at full stretch.
He also values personal relations including maintaining a balance between his professional responsibilities and family.
Through the rich tapestry of personal stories and flashes of insight, the book offers readers a comprehensive look at a bureaucrat / banker / institution builder who wears no mask, embodying authenticity, and inspiring change.
(The author works as Advisor with reputed Apeejay Education, New Delhi.)
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