According to Fortune magazine's 2016 “Most Powerful Women” list — its…

Concept: Fortune magazine publishes more than one annual ranking of powerful businesswomen: its flagship "Most Powerful Women" list (of businesswomen based in the United States), and a separate "Most Powerful Women International" list specifically for business leaders based outside the United States (a distinct ranking Fortune has published since 2001).

Application: For 2016 — the period this question is drawn from — Indra Nooyi, the India-born Chairman and CEO of PepsiCo (a U.S. company), ranked 2nd on Fortune's U.S.-based "Most Powerful Women" list.

Why the other named leaders are not the answer here:

• Chanda Kochhar, then MD & CEO of ICICI Bank, ranked 5th that year on Fortune's "Most Powerful Women International" list, which covers business leaders based outside the United States.

• Shikha Sharma, then CEO of Axis Bank, ranked 19th that year on the same "Most Powerful Women International" list.

• Arundhati Bhattacharya, then Chairperson of the State Bank of India, ranked 2nd that year on the same "Most Powerful Women International" list — a prominent rank, but on the international-only ranking rather than the U.S.-based list.

Cross-check: multiple contemporaneous 2016 news reports independently confirm Indra Nooyi's No. 2 rank on Fortune's U.S.-based "Most Powerful Women" list for that year.

Note: More recent Fortune India-specific rankings (a separate, India-only list) have featured other Indian businesswomen, including Nita Ambani, at the top — but that is yet another distinct list, not the Fortune “Most Powerful Women” ranking this question (based on a 2016 exam) refers to.