Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fourth straight year in a row while his children earned a sitting fee and a commission for being on the board of India's most valuable company. Ambani, 67, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential.
Slow growth over several quarters has drawn criticism from various stakeholders including the shareholders.
The chairman of the country's largest private sector bank felt 80 per cent of the consumer loans were back, the remaining 20 per cent mostly unsecured loans had taken a back seat.
Video surveillance shows Ali walking to his home at night with a packet in his hand when the three men chase him.
Asked if there was a timeline to see a turnaround at Infosys, Kamath said the country's second largest software services firm was a profitable company.
Responding to charges of cartelisation against the industry, newly-elected CII president K V Kamath on Thursday said corporates must ask themselves whether their actions in a demand-driven market was causing distress to others.
Kv Kamath has big plans as BRICS Bank chief.
Terror attacks in Mumbai will impact capital flows in the short term, ICICI Bank managing director and chief executive officer K V Kamath said in Mumbai.
Brokers believe that the higher charges may not completely deter investors from taking bets in F&O but could help cool down some activity, as the threshold to break even rises.
ICICI Bank always evoked adverse perception and undue criticism for its growth strategy, but its defence would be performance rather than the government protection by being a public sector entity, CEO and managing director K V Kamath has said.
A 23-year-old Indian student is missing in the United States state of California since last week and police have sought the public's help in finding her, the latest case in the country as the community grapples with a string of such incidents involving students.
Bootstrapping has put Nithin Kamath of Zerodha in a position where he can trifle with talk about valuation, points out Suveen Sinha.
The surge in the rupee value and excess inflows were the main challenges to the Indian economy, said K V Kamath, managing director and chief executive officer, ICICI Bank. The capital flows into India were a combination of several factors such as strong corporate profitability and robust remittance flows, said Kamath.
The Supreme Court asked the Centre and the RBI on Monday to place on record the K V Kamath committee recommendations on debt restructuring in view of Covid-19 related stress on various sectors as well as the notifications and circulars issued so far on loan moratorium.
India will send 117 athletes to the Paris Olympics, starting July 26 in the French capital. This will be India's second-biggest contingent at an Olympic Games after 121 athletes went to Tokyo in 2021. A total of 47 female and 70 male athletes will be part of the Indian contingent at the Games.
The Freelancer has been made with workman-like efficiency, but the subject of Islamic terrorism could do with a break, points out Deepa Gahlot.
The NDB will have an initial authorised capital of $100 billion.
Consumer credit may slow down to 20-25 per cent due to rising interest rate and the base effect, ICICI Bank CEO, K V Kamath said on Monday.
Kamath projected an average annual growth of 7.5-8 per cent for the country in the next five years for the economy, saying it was only investments in infrastructure and troubles with project implementation that had to be dealt with right now.
Amid a growing number of industry leaders expressing anguish over policy paralysis, top banker Chanda Kochhar has said that people are talking more about challenges while taking the positives for granted.
Describing India as a 'safe harbour' for foreign investors, ICICI Bank chairman K V Kamath has said that the country's infrastructure space alone would need $750 billion over the next three years, one-third of which would come from foreign and domestic institutions.
Check out how India's athletes fared on Day 10, Monday, August 5, 2024:
Kamath's success is the envy of bankers everywhere, but his feat of taking a small bank and turning it into the country's second largest lender is hard to match.
Lauding the government and RBI for saving the day for India with conservative banking norms, ICICI Bank chairman KV Kamath said on Monday any further reforms in the sector should wait as global banks are in 'disarray'. Expressing his views on RBI deferring the liberalisation of foreign banks, the ICICI Bank chairman said: "I think it is entirely appropriate that they have said they will review it at appropriate time."
The board meeting is likely to take place later in Shanghai.
Kamath also served on the board of Infosys.
'Deeply saddened by the unfortunate demise of Mr Uma Satya Sai Gadde, an Indian student in Cleveland, Ohio,' the Consulate General of India in New York said in a post on X.
Interest rates are expected to remain stable for now despite the Reserve Bank squeezing money supply through a hike in percentage of cash that banks must keep in reserve, ICICI Managing Director and CEO K V Kamath said. Kamath said at this point of time the market has not judged which way interest rates are going, but if yield on 10-year government bond is taken as an indicator, there is in fact a drop in interest rates. The RBI had last month announced a 0.75% hike in CRR.
Perhaps asset inflation in some parts of the country is not what it should be. To that extent you could say there is a bubble in some places. Will it burst or will there be a soft landing? It's too early to call, says K V Kamath.
Stressing a revolution in customer activities, the ICICI Bank chief said only 10 per cent of people go to branch of ICICI Bank these days and 90 per cent prefer transaction through other means such as ATMs, call centres and Internet. Kamath noted that the consumer is helping drive the growth.
Terming inflation as a key challenge, the Confederation of Indian Industry on Thursday said the government is worried, but not panicked, that rising prices may go to levels where controlling it could become difficult.
Kamath also said that the new bank, set up by India and four other members of the BRICS grouping, will strive to approve its first loan before end of the current fiscal.
How much do you know about the Vibrant Gujarat Global Summit 2024?
K V Kamath to take charge of BRICS Bank in July.
Manika Batra shocked World No. 2 Wang Manyu of China to secure the biggest win of her singles career.
'Sebi had no problem with derivatives until trading exploded after Covid.' 'But now, having built a dangerous road, from which different entities, mainly governments, are extracting a heavy toll, Sebi is concerned that people are driving on it in much greater numbers,' explains Debashis Basu.
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