It’s always heartening to see a woman move up into a top job. Zarin Daruwala headed ICICI Bank’s wholesale banking business, and was one of the bankers responsible for the Essar-Rosneft deal. Last year, she was named as the India head of Standard Chartered. It’s a big move—from running one of the most important verticals of India’s largest private bank to taking charge of a much smaller, troubled subsidiary of a large foreign bank. Deputy editor T. Surendar says such moves are not common in banking. He speaks to bankers and recruitment specialists to understand what this move means to Daruwala and to Stanchart. On page 63

On the subject of big moves, senior editor Pavan Lall caught up with Vandana Luthra of VLCC fame. His aim: to understand if VLCC would go through with its IPO plans. And if it does, will the lady give up the controls easily? Read about that on page 84.

Lall also pushed the case of Devita Saraf, the thirty something daughter of Raj Saraf, founder of Zenith Computers. She has created a business making and selling flat-screen TVs—designed in the U.S., manufactured in China, and sold in India, read this story on page 70

Elsewhere, Indra Nooyi’s name has begun doing the rounds as a possible candidate for the chairman’s post at Tata Sons. Nooyi’s showing has been consistent on Fortune’s Most Powerful Women list in the U.S. In the last five years, her position has veered between No. 2 and No. 3, but never lower. Many see her pivoting Pepsi away from the realm of unhealthy foods (sugary drinks, chips and so on) to healthy foods (water, kale juice, and low-fat snacks) as visionary. But if Bombay House were at all to consider attracting her or someone of her calibre, it needs to quickly change the ongoing narrative. Catch the international list from page 117