'When growth is ignited, as it has been in India it continues for a long time, as long as 20 to 25 years! The last case was China, and before that Japan. I do hope this happens with us, says ICIC Bank chief executive officer K V Kamath.
ISB has introduced this concept, christened "Shadow a CEO", to mobilise funds for charity and allow its students to work with the Who's Who of India Inc for a day. Some 16 CEOs have agreed to participate. "We not only want to put the money generated for benefit of the society, but also let our students experience the joy of operating with a CEO for a day," said Ajit Rangnekar, Dean of ISB.
"Manufacturing sector has come back to the stream...Infrastructure, mainly power, is coming back in a big way...my belief is that we will see a growth of 7-7.5 per cent (in the current fiscal)," ICICI Bank, Chairman, K V Kamath told a conference on Monday.
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 MD and CEO of ICICI speaks on how life will change and the bank's strategy going forward.
With inflation declining for the sixth week in a row, ICICI Bank chief K V Kamath on Friday said lending rate will come down to single digit in a year and predicted attractive opportunities in treasury operations in the soft interest rate regime.
Easily the biggest high-power gathering and by far the starriest event staged in Gujarat, concluded at the Reliance petro township in Jamnagar on Sunday.
When your reputation is under attack, do not look for someone to blame, do not weasel out by citing technicalities, and do not sidestep responsibility. The to-do list forms this article. While you read it, send for Amitabh Bachchan
ICICI Bank chief K V Kamath to be new CII vice president.
The board of ICICI Bank, the country's second-largest lender, will take a final call on appointing a successor to K V Kamath, its present managing director and chief executive officer, next month.
Public sector lenders Canara Bank, Corporation Bank and Allahabad Bank have decided to lower interest rates on housing loans, preferring to keep their prime lending rates (PLRs) unchanged. ICICI Bank Managing Director and Chief Executive Officer K V Kamath has indicated that the country's second largest bank would review interest rates only in 2008-09.
K V Kamath is preparing to move across the corridor on the 10th floor of the ICICI Tower to his new cabin, which is under renovation now.
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 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.
Strongly denying that economy is slowing down, CII President K V Kamath on Monday said one has to see India Inc's performance in the next two quarters to pass a judgement.
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.
The country's largest private lender ICICI Bank on Monday said that interest rates are expected to come down in the next one-and-a-half months.
The shareholders have been asked to vote on the proposals, which were approved by the board at the meeting on December 19, through postal ballot by February 11 and the results would be announced on February 13, the bank said in a notice to its shareholders. As per the proposals, Kamath would replace N Vaghul as the bank's non-executive chairman, after he retires on completion of his current term on April 30.
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.
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.
The extent of the rate cut is being calibrated and would be announced soon. ICICI had earlier this month reduced home loan rates for new customers by up to 1.5 percentage point. There are indications that the fresh cut in interest rates would benefit both existing and new customers.
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.
The board also appointed K V KKamath as the non-executive chairman of ICICI Bank, a role being performed by his mentor Narayan Vaghul, who is scheduled to step down once his term ends in March. Vaghul has been with the ICICI group for 24 years.
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.
India's growing knowledge economy and rising consumer aspirations drove the growth of ICICI Bank, the country's most valuable lender, its CEO K V Kamath said.
Companies are developing a surrogate education system to create a skilled labour pool.
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.
Inflation may rise again as global crude oil prices continue to soar touching an all-time high of $90 last week, besides, rising food prices in the domestic market. On the issue of interest rates, Kamath said the bank would wait till the ensuing mid-term policy, due on October 30, before taking any decision.
ICICI bank CEO and CII president K V Kamath told the media on the eve of the two-day national council in Hyderabad that 'skilling' was the key area and big challenge for the country.
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.
The summit would be held between December 17 and 19, K V Kamath, managing director and CEO, ICICI Bank, who is a member of TiE's India Advisory Board, said.
Banking is all about leveraging, the ICICI boss 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.
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.
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.
After the 25 basis point hike in the percentage of cash that banks must hold in reserve, bankers claim that liquidity will be comfortable but banks may hike interest rates. RBI has decided to increase Cash Reserve Ratio by 0.25 per cent to suck nearly Rs 9,000 crore (Rs 90 billion) surplus cash from the system, which would in turn temper demand for loans and help ease inflation. Some banks might pass it on to the customers. Banks would announce their decisions within few days
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.
Bankers were optimistic about the Reserve Bank's annual credit policy, which left all key rates unchanged, but feared that there could be tightening measures in the near future if it had to contain inflation around five per cent.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances