Two exceptional women met with two exceptionally dissimilar treatments on Monday. In the US, the $27 billion PepsiCo announced that it would hand over the reins of the company to Chennai-born Indra Nooyi who would be the first woman, first non-American-born CEO, of the beverage maker. But in India, the Reserve Bank of India asked HSBC India CEO Naina Lal Kidwai to step down from the global board of Nestle SA on the ground that it resulted in a “potential conflict of interest” since Nestle has an Indian subsidiary and her bank could be a potential lender to Nestle India. Failing that, the central bank refuses to ratify Kidwai’s appointment as CEO of HSBC India. Appointment of all bank CEOs in India needs to be approved by the Reserve Bank of India.

It’s ironic that Pepsi, despite a backlash in India over allegedly high pesticide contents in beverages sold in the country and a manufacturing ban in one state, appoints an Indian to head the company when the entire controversy is based on the report of a non-government agency. And it’s shocking that Kidwai has been handpicked for the treatment by the country’s central bank when there are innumerable instances of bank chiefs sitting on the board of various corporates in India and abroad. Deepak Parekh, chairman of HDFC, sits on the boards of 14 companies, including Singapore’s largest telecom company SingTel which has a significant stake in India’s largest private sector telecom major Bharti Enterprises. Tata-owned Indian Hotels, Hindustan Lever, Mahindra & Mahindra, ICI India, Castrol India, Mico and Burroughs Welcome are some of the other companies where Parekh sits, either as a director or chairman. Similarly, ICICI chairman N. Vaghul is a director on the board of Mittal Steel, Wipro, Apollo Hospitals, Mahindra & Mahindra, Nicholas Piramal and Samtel Colour.

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