K. V. Kamath
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Born: December 2 1947, Mangalore, Karnataka
Occupation / Position / Function: Non-Executive Chairman of ICICI Bank, First Chairman of BRICS Bank
KV Kamath is one of the veterans of the Indian banking sector. He has been the former Managing Director and Chief Executive Officer of ICICI Bank, the largest private sector bank, and is currently its Non-Executive Chairman. In June 2015, KV Kamath was elected head of the 50 billion New Development Bank (NDB), being set up by emerging developing countries Brazil, Russia, India, China and South Africa (BRICS).
Kamath has also been the Chairman of Infosys Limited, the second-largest IT company in the country. He modernized the Indian banking sector with his insight. Through ‘Universal Banking’ and proper staff management, he made a big difference in India’s banking sector. He has also been an independent director of Houston-based oil company Schlumberger and Indian multinational pharma company Lupine.
Kamath was born on December 2, 1947, in Mangalore, Karnataka, to a Gaur Saraswat Brahmin family. His father’s name was Vishwanath Kamath. He spent his childhood mainly in Mangalore. His early education took place in a Kannada-medium school. After enrollment, he completed his PUC from St. Aloysius College. After Pre-University (PUC), he enrolled in Mechanical Engineering at the National Institute of Technology Karnataka, Surathakal. In the year 1969, he passed the graduation examination from the National Institute of Technology, Surathkal, and enrolled in the Indian Institute of Management, Ahmedabad, for management education.
After completing his management education from the Indian Institute of Management, Ahmedabad, Kamath started his career with ICICI (Industrial Credit and Investment Corporation of India) in 1971. From ‘Project Finance’ in ICICI, he gradually worked in almost every department of the institution. There he also took over the responsibilities of management and, under this, also started computerization of the working system of ICICI. Thus he started computerization in ICICI and made a significant change in the banking sector of India.
In 1988, Kamath moved to the Asian Development Bank, Manila (Philippines), where he worked in the bank’s ‘Private Sector’ department. While working at the Asian Development Bank, he worked on several financial projects in China, India, the Philippines, Bangladesh, Indonesia and Vietnam. He served as the representative of the Asian Development Bank on the board of companies.
Kamath returned to ICICI in 1996 as Managing Director and Chief Executive Officer. By coming here, he spread the services of the group to retail customers. Between 1996 and 1998, under his leadership, ICICI acquired several non-banking financial companies, which paved the way for establishing ICICI Bank.
In May 2011, he was elected non-executive Chairman of Infosys, India’s second-largest software exporter.
Kamath is also a member of the governing boards of many educational institutions. Prominent among these are the Indian Institute of Management, Ahmedabad, Indian School of Business, National Institute of Bank Management, Pandit Deendayal Petroleum University and Gandhinagar Manipal Academy of Higher Education. He is also the Chairman of the Governing Board of the Indian Institute of Management, Indore.
Kamath is also a member of the National Committee of the Confederation of Indian Industry (CII).
In June 2015, KV Kamath was appointed head of the 50 billion New Development Bank (NDB), being set up by emerging developing countries Brazil, Russia, India, China and South Africa (BRICS).
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Honours and awards
- By becoming the Asian, the Journal of Singapore named ‘the most e-savvy CEO of Asian banks
- ‘Finance Man of the Year’ award by Mumbai Management Association
- ‘Best CEO for Innovative HR Practices’ by World HRD Congress
- Asian Business Leader of the Year Award in 2001 Asian Business Leader of the Year
- Outstanding Business Leader of the Year honour by CNBC-TV18, 2006
- Awarded ‘Businessman of the Year’ by Business India, 2005
- Announced Businessman of the Year, 2007 by The Economic Times
- Famous magazine Forbes Asia named Businessman of the Year
- Awarded the Padma Bhushan by the Government of India in 2008