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.
Under KV Kamath's leadership, ICICI Bank's revenues grew multi-fold.
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.
'If you are a professional journalist, don't ever think that your work is going to bring in revolution or that you are going to change the world. That job is best left to the revolutionaries,' M V Kamath, the legendary journalist who passed away on October 9, told Nitin Gokhale.
India won seven of the nine races held on the last day of the swimming competition at the 10th South Asian Games.
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.
After 24 years at the helm, Narayan Vaghul, the non-executive chairman of ICICI Bank, will call it a day in March next year. His protege and the current chief executive officer and managing director K V Kamath is likely to step into Vaghul's shoes after his term ends in April.
The activity taking place in the SME sector is phenomenal. I think we are seeing a new breed of entrepreneurs, says ICICI Bank CEO K V Kamath.
Things have changed dramatically for India Inc post liberalisation in 1991. Business Standard catches up with three industry veterans on what reforms meant in the early days and what lies ahead . . .
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.
ICICI Bank's Managing Director and Chief Executive K V Kamath is of the opinion that inspite of the marginal dip in growth India's long-term economic growth potential remains sustainable. However, he said the growth may slip from the previous 10 per cent level to around 8 per cent this fiscal. The services sector, contributing 60% to GDP, will help sustain the growth path. He said present inflation is a supply-side phenomenon and is not due to any over-heating in the economy.
The CEO of ICICI Bank is the third Indian in four years to win the accolade.
His sole ambition is to provide employment to 10,000 people.
'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.
ICICI Bank Chairman K V Kamath on Thursday disagreed with the suggestion of SBI chief Pratip Chaudhuri that RBI should scrap CRR, saying it is part of the monetary policy and no issue can be made of it.
Check out how India's athletes fared on Day 10, Monday, August 5, 2024:
How much do you know about the Vibrant Gujarat Global Summit 2024?
Ajay Lakhotia, an ISB student, shares his experience of spending the day with former managing director and CEO of ICICI Bank KV Kamath and the management lessons that this young MBA grad has learnt from the banking veteran.
Indian women's team eased past Uzbekistan while the men endured successive defeats with the loss to South Korea in the World Table Tennis Team Championships in Busan on Monday.
Kamath said India's economic climate had started improving.
The new chairman assumes his role at perhaps one of the most challenging times for both the company and the industry.
Corporate India is not bothered about the subprime crisis. I have not seen any large business house walk away from a deal on account of lack of funding.
Manika Batra shocked World No. 2 Wang Manyu of China to secure the biggest win of her singles career.
Forecasting that inflation is inching towards zero, ICICI Bank managing director and chief executive officer K V Kamath on Tuesday suggested to the Reserve Bank of India to further cut key policy rates by 100 basis points as part of a calibrated move to usher in a low interest rate regime.
Nishikant Kamath speaks about his movie Force and how satisfied he is with the audience response.
The banking regulator is scheduled to come out with its monetary policy for FY 09 on April 29. "We will wait for the (RBI's) policy statement before taking any decision on our interest rates," ICICI Bank Managing Director & CEO K V Kamath told reporters on the sidelines of an Indian Merchants Chamber-organised press conference in Mumbai on Thursday. Interest rate decisions would also be influenced by prevailing market conditions, Kamath said.
'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.
IT major HCL Technologies' Shiv Nadar has retained his position as the 'most generous Indian' in 2023 as well, with a 76 per cent jump in his donations at Rs 2,042 crore. Wipro's Azim Premji's donations zoomed by 267 per cent to Rs 1,774 crore during the same year, according to the Edelgive Hurun India Philanthropy List 2023 released on Thursday. Richest Indian Mukesh Ambani donated Rs 376 crore in the year, which is an 8 per cent decline.
Indian economy is likely to end this fiscal with over 6 per cent growth backed by industrial recovery and impressive performance of the service sector, according to ICICI Bank chief executive K V Kamath.
When the artery going to the brain gets clogged or closes off, and a part of the brain goes without blood for too long, it is called an ischemic stroke.
Lots of romance and action on OTT this week. Sukanya Verma lists her recommendations.
"About 70-75 per cent of the Indian economy seems to be doing better," Kamath, who is also the CEO and managing director of ICICI Bank, told private television channel CNBC TV18 during an interview. Contraction in agriculture and manufacturing have pulled down India's economic growth to 5.3 per cent in the third quarter, its lowest quarterly expansion in over five years, against 8.9 per cent in the same period a year ago.
The government should avoid euphoria about India's growth and success and should lace its policies with pragmatism, given the fact that the global situation is still unclear, ICICI Bank chairman K V Kamath said on Wednesday. "We should be prudent in the way we look at growth," Kamath told PTI in an interview on the phone from Tokyo, adding that the external sector is still a pressure point and exports have shown negative growth for seven months in a row.
Stating that India is not witnessing a slowdown in investment, Confederation of Indian Industry president K V Kamath said on Thursday that the country would continue to grow at a healthy rate of 8.6 per cent for the next five years.
They also clarified that both the names Bharat and India, mentioned in Article 1 of the Constitution as "India, that is Bharat...", are part of the country's history and both names are "completely legitimate".
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