After news of KV Kamath stepping down as the non-executive chairman, Infosys is on the hunt for filling up the post.
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.
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.
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.
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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.
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.
Kv Kamath has big plans as BRICS Bank chief.
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.
Ahead of the upcoming budget, eminent economists during a meeting with Prime Minister Narendra Modi on Thursday urged the government to take steps to accelerate economic growth and improve infrastructure, sources said. The meeting was organised by the NITI Aayog on Thursday to elicit views and suggestions of economists for the first budget of the Modi 3.0 government. "Earlier today, interacted with eminent economists and heard their insightful views on issues pertaining to furthering growth," Modi said in a post on X.
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.
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.
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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.
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."
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The board meeting is likely to take place later in Shanghai.
Kamath also served on the board of Infosys.
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.
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Bootstrapping has put Nithin Kamath of Zerodha in a position where he can trifle with talk about valuation, points out Suveen Sinha.
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.
Speaking to reporters on the sidelines of a CII meet in Kolkata on Monday, ICICI Bank MD and CEO K V Kamath said the light engineering and transportation sectors had already been hit following a slump in sales of commercial vehicles.
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K V Kamath to take charge of BRICS Bank in July.
The Freelancer has been made with workman-like efficiency, but the subject of Islamic terrorism could do with a break, points out Deepa Gahlot.
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
Kamath, who succeeded N R Narayana Murthy at the Bengaluru-headquartered, Nasdaq-listed firm, nearly a month ago, said Infosys is a well-established company with processes which are clearly defined, and his role would be what is expected of an independent non executive board chairman, namely governance oversight.
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