Last year, Nikhil Kamath and his brother Nithin jettisoned into a club of the country's 100 wealthiest with their net worth pegged at around Rs 24,000 crore
Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fifth year in a row and dividends remain his main source of earnings. Ambani, 68, 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.
Zerodha and True Beacon co-founder Nikhil Kamath, along with Abhijeet Pai, has invested in Omnipresent Robot Tech through their investment arm Gruhas Proptech. This round also saw co-investments from Kavin Shah, and other individual high networth individual (HNIs), according to a statement released on Thursday. However, the amount invested by Kamath and Pai has not been disclosed.
The government on Wednesday announced the appointment of veteran banker K V Kamath as chairperson of the newly set up Rs 20,000 crore development finance institution NaBFID to catalyse investment in the funds-starved infrastructure sector. Parliament had in March cleared the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 to support the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.
Veteran banker K V Kamath on Friday said it is "time to be brave" for the government, and it should stretch the fiscal deficit target set in the budget if need be, to push growth. He said benign interest rates of under 8 per cent and abundant liquidity are also necessary to seize what he called as a 25-year growth runway opportunity awaiting the country. The government has targeted to get the fiscal deficit at 6.8 per cent for FY22 in the Budget presented early this year.
'They wanted the city to be a great business hub. They didn't like the fact that taxes collected in Bombay would go outside the city.'
The nominations committee of the board had earlier recommended Kamath's induction as an additional director. Kamath, at the end of April 2009, stepped down as CMD of ICICI Bank and is now the non-executive chairman.
Seshasayee has been an independent director on the company's board since January 2011.
The Karnataka High Court has quashed the Enforcement Directorate's summons to Chief Minister Siddaramaiah's wife Parvathi B M and Urban Development Minister B S Suresh in connection with the MUDA site allotment case. The court ruled that the ED was conducting a parallel investigation despite the case already being probed by the Lokayukta police and a Special Investigation Team (SIT). The ED had alleged that Siddaramaiah and other accused were involved in attempted money laundering in the MUDA site allotment case and that the fourteen sites (plots) allotted to Parvathi in Mysuru upmarket were illegally allotted.
The 26 sectors specified by the RBI include automobiles, power, tourism, cement, chemicals, gems and jewellery, logistic, mining, manufacturing, real estate, and shipping among others.
The valuation of the Reliance empire by ICICI Bank chairman and an Ambani family friend, K V Kamath is complete, setting the stage for a possible settlement of ownership issues between the warring brothers, Mukesh and Anil.
To help you ride the growth trajectory of India's equity markets, we have curated the top five fastest-growing stocks that hold an impressive upside. If you're planning to build a sound portfolio and capitalize on the growth of these leading institutions, it's time you watch these stocks.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
Veteran journalist and former Prasar Bharati Chairman Madhav Vittal Kamath died at a private hospital in Manipal on Friday. He was 93.
Dhoni himself addressed the retirement rumours in a latest podcast after speculation of his retirement from IPL intensified, when his parents Pan Singh and Devaki Devi were seen at Chepauk for CSK's match against Delhi Capitals on Saturday.
Prime Minister Narendra Modi on Friday cited a number of incidents including the Godhra train fire and terror attacks in Gujarat to describe how he tries to detach himself from his emotions to overcome anxiety.
'Degrees get you into the room, it is the attitude that counts,' says adman Madhukar Kamath.
Asked if banks would hike their lending rates following the Reserve Bank raising its short-term key rates, Kamath said it depends upon several issues and each bank would take a call.
"I expect that the economy will grow at a minimum of eight per cent in FY 10 and then may get on to the targeted growth of 9 and 10 per cent (in the coming years)," ICICI Bank chairman K V Kamath said at a meeting in Mumbai. Domestic consumption and investment would continue to drive the Indian economy, Kamath said, adding that the country would be on a high-growth trajectory in the next 15-20 years.
When Kamath took over the organisation, ICICI had 33 subsidiaries. He gradually brought them down to 24 and then to a dozen, preparing the organisation for an initial public offer in December 2005.
The CII perception of Indian economy is strong as incremental capital-output ratio at 4-fares is better than China and Brazil, the ICICI chief said.
ICICI Bank chief executive officer and MD K V Kamath on Tuesday said that there is no need to alter interest rates since the demand for credit is not high.
India's premier software services company, Infosys Limited, has reached out to its banker, the non-executive chairman of ICICI Bank, K V Kamath, to step into the shoes of its founder N R Narayana Murthy.
ICICI Bank chief K V Kamath today said interest rates in the country were "moderating" but could put pressure on the economy if they rise further.
The banking star will appear on Rediff Chat on August 8 at 10.30 a.m.
K V Kamath says he can never step into Narayana Murthy's rather large shoes, but would do his best to ensure Infosys continues to adhere to the highest standards of corporate governance.
When the fire drills of the day begin to sap your time, focus on the 80:20 rule.
When its founder, Raghunandan Kamath, took a calculated risk, his Bollywood customers backed him all the way, say Rohith Potti and Pooja Bhula.
Given the extremely good liquidity situation in the economy, interest rates are likely to remain stable in the next six months, K V Kamath, managing director and CEO, ICICI Bank said.
KV Kamath has had a tough journey so far.
After news of KV Kamath stepping down as the non-executive chairman, Infosys is on the hunt for filling up the post.
Sameer Kamath, a US citizen, was found dead in the woods on February 5 at approximately 5pm in NICHES Land Trust - Crow's Grove in Williamsport, Indiana.
The Supreme Court on Thursday ordered setting up of a six-member committee headed by former apex court judge Justice A M Sapre to investigate the recent Adani group shares crash triggered by the Hindenburg Research's fraud allegations and other regulatory aspects related to stock markets.
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.
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.
