Posted by: John Elliott | April 30, 2009

ABN-Amro banker wins recognition as an independent candidate in Mumbai

SOUTH MUMBAI: Meera Sanyal, the ABN-Amro banker who is standing as an independent general election candidate for South Mumbai that goes to the polls today, must know that she will not win the Lok Sabha seat – but, she tells me, “I already have won”. 

Meera Sanyal - with her batsman election symbol

Meera Sanyal - with her batsman election symbol

And so she has, in the sense that she has made a personal mark on politics, nationally as well as in Mumbai. She has raised the profile of independent candidates and helped to give voice to a groundswell of exasperation with India’s often corrupt and ineffective politicians, as well as raising economic and other local and national issues than the main parties were virtually ignoring.

The exasperation has been expressed most graphically by the six or so slippers and shoes that have been thrown at politicians this month, as well as by a crop of initiatives devoted to improving the way politics operates – for example the Public Interest Foundation’s Forum for Clean Politics, which is headed by Bimal Jalan, a former Reserve Bank of India governor of the and now a Rajya Sabha member.

The question now is whether these initiatives will continue to grow after the general election, and have a significant impact on future polls. Sanyal certainly seems to be planning to continue and sounds as if she is at the start of a new phase in her career.

The 47-year old daughter of an admiral, she has been country head since the end of 2007 of ABN-Amro (now part of RBS) and is on sabbatical till the polls are over, when she will return to work if she does not win. Her family says she has been talking about entering politics for a long time because of a wish to contribute to public life, but it was the November 26 terror attacks that made her act. She says she felt directly involved, partly because her office is directly behind the Oberoi, and especially because Ashok Kapur, founder and chairman of Yes Bank who originally recruited her into ABN-Amro, was among those killed in the Oberoi hotel.

She reckons she has filled a “vacuum of leadership” in the election by responding to a feeling among people that politics must be changed. “Politics should be the highest of professions as it was in the time of Mahatma Gandhi, Jawaharlal Nehru and Muhammad Ali Jinnah,” she says.

She likes to add a business tone to her comments and talks about Congress and the BJP “losing market share” which, in a company, would mean they were ”selling the wrong product” or “not attracting the right talent” – the inference being that she has both the product, in terms of policies, and the talent to fill the gap left in the market.

She criticises the main parties for not talking about major issues such as the economy, especially the fiscal deficit of approaching 11% and claims her remarks have made them focus more. Her one-page manifesto flyer also calls for national policies on subjects ignored by the main parties such as education and the environment. For Mumbai she calls for action on infrastructure investment, stronger security against terrorism, affordable housing, water, providing open spaces in new land developments, and election of a city mayor.

img_3742_edited1I walked with her earlier this week around south Mumbai’s Lower Parel area where mills and other factories have closed in recent years. This is a difficult constituency – both for Sanyal and for Milind Deora, the 33-year old current Congress Party MP, who is defending his seat. The boundaries have been significantly redrawn beyond the well-off areas in the south of the city that elected Deora last time. There are now 1.9m voters, 35% of whom come from slums and have been represented since 2004 by Deora’s main opponent, Mohan Rawle, a veteran MP for the Maharashtra-based chauvinist Shiv Sena party.

Motorbikes ready for the Congress motorcade

Motorbikes ready for the Congress motorcade

There was a mood of almost naive euphoria among Sanyal’s small team of volunteers as they sang “we shall overcome” to the tune of the American civil rights song – contrasting vividly  with Deora’s noisy motorcade of local party heavyweights that was led by over 100 motor cycles. “Being together is enough of an event,” said one of Sanyal’s helpers, who despaired of the quality of India’s governments. People came to the windows and balconies of their blocks of flats to look down as Sanyal called to them through a loud hailer. Some smiled and waved while others looked indifferent.

Known to be personally ambitious in her banking career as well as professionally competent and effective, Sanyal clearly has her eye on something bigger than tramping the streets canvassing for votes. She told me that if she loses, she will stand again in the next general election “and the next and the next and the next”. Some people have suggested to her that she should stand for the Maharashtra legislative assembly later this year, but she says she will not do so, though she will encourage others.

Significantly she does not rule out joining a political party – “of course not” she replied when I asked her. That answer puts many of the new-style professional independents’ initiatives in perspective: they would become party candidates if they could but, knowing that is unlikely, are making their mark as independents.

Milind Deora (centre with cap)

Milind Deora (centre with cap)

Murli Deora, a veteran Mumbai politician and a current government minister who is the Milind Deora’s father, gave me the establishment’s practical reply to such ambitions. He acknowledged that Sanyal is “a successful banker and has a lot to contribute to the country”, but added: “It would be a little difficult to give her a seat straight into parliament – one would have to wait a little and do some work”.

Deepak Parekh, chairman of HDFC Bank, who has publicly backed Milind Deora rather than Sanyal, said candidates should be backed by a party, adding, “we need strong national parties to give continuity and stability”.

Sanyal of course does not really disagree with that, but says that “if parties were to practice inner party democracy, then people like me wouldn’t need to stand as independents”. Put another way, the dynastic and vested-interest links that dictate who is chosen by the main political parties block would-be new entrants such as Sanyal as well as Captain G.R. Gopinath, the airline entrepreneur who is a candidate in Bangalore, and dancer Mallika Sarabhai who is standing against L.K.Advani, the BJP leader, in Gujarat.

When Manmohan Singh, the prime minister, visited Mumbai two weeks ago he said that independent candidates were ‘spoilers’. Many of them probably are, but I wonder if he would like it to be any different. He must feel more in tune with people like Sanyal than many members of his cabinet, and would have made a perfect independent candidate himself if Narasimha Rao, the Congress prime minister, had not got to him first in 1991 and made him finance minister.  

This is a slightly extended and illustrated (and unedited) version of an article in Mint, an Indian daily newspaper – see



  1. I kind of agree Meera that she is already a winner, whatever the outcome of the election. Most of us sit around and talk the talk, it’s good to finally see someone walk the walk.

    p.s. I think your coverage of the general elections has been really interesting and there are a lot of things you discuss that get left out by the mainstream media because of the grind of daily news cycles.

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