K V Kamath

Indian banks have a healthy return on equity (ROE) rate of 15 to 20 per cent, which is sufficient for the sector to grow and meet the capital requirements to 'bulk up'

Kamath said that he has 'no sympathies' for organisations complaining of not having enough people in a country like India

'India will be a $25 trillion economy in 25 years, digital India will drive 20-25% of this growth'

According to Kamath, infrastructure development would be the key driver of India's growth, especially in transforming its cities

Economic growth of 7% will attract FDI flows in India

Veteran banker K V Kamath on Friday said there is a need to correct "compliance burdens" for businesses in the country and also reduce litigations. Kamath, who now chairs the government-promoted National Bank for Financing Infrastructure and Development (NaBFID), said that the government needs to reduce the litigation and concerns on tax laws at a greater speed. "...the level of compliances and compliance burden that needs to be corrected," he said addressing an event organised by industry body Ficci here. He later elaborated that the government itself has identified issues on the compliances front when it spoke about simplification of various procedures for businesses. When asked if it is impacting investor confidence, Kamath replied in negative, reasoning that the investor class will come wherever it sees value. Kamath said the foreign direct investment (FDI) flows have been impacted by the overall global sentiment where volatilities are leading to a deferment of decisions, and

Noted banker KV Kamath, who now chairs the National Bank for Financing Infrastructure and Development (NaBFID), expects the digital sector to contribute a quarter of the incremental GDP by the time the economy becomes a USD 7 trillion giant by FY29. Currently, the contribution of the digital economy is a low 4 per cent, whereas it is as much as 40 per cent in China. The government and planners see the economy becoming the third largest in the world by FY29, overtaking Japan, with a GDP of USD 7 trillion from the present USD 3.3 trillion. The digital economy -- the digital infrastructure, e-commerce and other digital payments and services segments--can be the country's biggest growth-driver and can contribute as much as 25 per cent of the incremental GDP by the time India becomes a USD 7-trillion economy by FY29. Currently, the share is a low 4 per cent, Kamath told PTI in an interaction over the weekend. "As much as 40 per cent of the Chinese economy come from the digital sector

Move comes following approval by RIL board in October to restructure the business; company also seeking shareholder nod for appointment of KV Kamath as RIL independent director

Reliance Strategic Investments, of which he is the non-executive chairman, will be renamed Jio Financial Services Ltd, and will be listed on the bourses pursuant to a demerger scheme

Kamath served as Chairman of Infosys. In 2015 he was appointed as the first President of the New Development Bank set up by the BRICS countries from where he retired in 2020

India is expected to be a USD 25-trillion economy in 25 years, veteran banker and chairman of National Bank for Financing Infrastructure and Development K V Kamath said on Tuesday. NaBFID was set up by the government last year to support the development of long-term infrastructure financing in the country. Kamath also said all the necessary policies and framework related to NaBFID have been done. We are on schedule (that) the government has in mind," he said adding as many as 12 board meetings of the bank have already taken place. "The India that I look forward to, 25 years from now, (will be) a USD 25-trillion (economy)," Kamath said at the Morningstar Investment Conference here on Tuesday. He said the Indian economy is growing at a compound annual growth rate of 8-10 per cent. "The policies, processes and the framework are done. The CEO is in place...We have to start lending now, Kamath said.

Banks are caught in their own narrative: credit growth. Soon, one may see bubbles in certain pockets.

Kamath recognised the great transition done by the banks over the last two years during the pandemic, however, the only issue is about how to compete.

The DFI would have a chairman, two government nominees, and four whole-time directors, says Kamath

Last month, the government had announced the appointment of the veteran banker as the chairperson of the newly set up development finance institution

Centre to appoint its two nominees this week

The institution has been set up to support the development of long-term non-recourse infrastructure financing.

The country's economy is set for a stronger performance going forward, driven by growth in large corporates, agriculture and most importantly digital startup sector, veteran banker KV Kamath said

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.

Kamath panel approved all the nine proposals of banks