'There is a challenge in repositioning yourself, maybe reinventing yourself.'
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
The recent policies that have been announced by the Reserve Bank of India (RBI) will allow banks to fully use its capital, funding profile to keep business at an equilibrium level, which otherwise was getting skewed towards retail, said K V Kamath, chairman, Jio Financial Services.
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.
When the fire drills of the day begin to sap your time, focus on the 80:20 rule.
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.
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.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
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.
Indian banks might meet the Reserve Bank of India's projection of an 18 per cent growth in credit, K V Kamath, chairman of the country's second largest lender ICICI Bank said in Mumbai on Tuesday.
Kamath also served on the board of Infosys.
In a major top-level management restructuring, India's second largest software firm Infosys on Saturday named veteran banker K V Kamath as the new chairman to succeed founder N R Narayana Murthy, who retires in August.
The CEO of ICICI Bank is the third Indian in four years to win the accolade.
Kamath said India's economic climate had started improving.
K V Kamath to take charge of BRICS Bank in July.
New Development Bank plans to issue $300-500 mn worth masala bonds in rupee: K V Kamath.
The banking star will appear on Rediff Chat on August 8 at 10.30 a.m.
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.
No great achievement or discovery or invention has been achieved without hard work. While the inspiration may have been an insight, it needs work to flesh the insight which requires hard work, asserts Mudit Jain.
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.
Several factors seem to have corrected in India in the past six months, says the president of New Development Bank.
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.
Under KV Kamath's leadership, ICICI Bank's revenues grew multi-fold.
With the turn of the millennium, ICICI emerged as the largest private bank in India and fueling its growth was the untiring efforts of one man -- KV Kamath.
Kundapur Vaman Kamath, managing director and chief executive officer of ICICI Bank, has been chosen Business Standard's Banker of the Year for 2005-06.
An expert committee, set up by the Supreme Court to probe allegations against the Adani group following a bombshell report from a US short seller, has members with potential conflict of interest, a fresh petition filed in the apex court on Monday said.
We have initiated the search now to ensure we have a seamless management transition to the next leader, says K V Kamath.
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 governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
An expert committee appointed by the Supreme Court said it cannot conclude any regulatory failure around Adani Group's stock rallies, and that Securities and Exchange Board of India (SEBI) has 'drawn a blank' in its probe into alleged violations in money flows from offshore entities into the conglomerate.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
"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.
Unlike the first two stimulus packages, this time the focus would be on boosting demand.
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.
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.
The RBI had on August 7 announced a five-member expert panel under former ICICI Bank chairman Kamath to make recommendations on the required financial parameters for recasting corporate loans.
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender. Kochhar, a regular feature on Forbes top global honchos lists, was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. Kochhars were called to the agency headquarters and arrested after a brief questioning session. Her chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
Banking sources said the debt recast is actually 'Plan B' to help the nation's largest retailer stay afloat.
The Supreme Court on Thursday asked the Sebi to probe within two months allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures, and also set up a panel to look into protection of Indian investors after a damning report by a US short seller wiped out more than USD 140 billion of the conglomerate's market value. The top court while directing the setting up of a six-member committee headed by former apex court judge Justice A M Sapre for the assessment of the extant regulatory framework and for making recommendations to strengthen the process said it was appropriate to set up such a panel of experts in order to "protect Indian investors against volatility of the kind which has been witnessed in the recent past". The court-appointed Justice Sapre panel, which will be provided assistance by the Centre and other statutory agencies including the Sebi chairperson, will have to submit its report in a sealed cover within two months, said the bench which comprised Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala.
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