Business NEWS
K. Vaman Kamath, CEO of ICICI Bank says company to review rates in a few days
By Amarendra Bhushan for CEOWORLD Magazine Updated:November 3, 2008
Get CEOWORLD Magazine digital monthly version. special- Top Capital Cities for a business Traveler, # Interview with Minister of Tourism of Greece. 1 Issues Subscription= $1 Only, 10 Issues Subscription= $5 Only. Grab your copy now!!!!On the Reserve Bank of India (RBI) rate moves, KV Kamath, CEO of ICICI Bank said that signals to banks is very clear and lending and deposit rates will react to liquidity. At this point in time, there is still no outright statement on interest rate going forward but according to him, the lending and deposit rate will react to liquidity and signals to banks are very clear. Kamath may be hinting towards some kind of rate move from ICICI Bank.
The Reserve Bank on India (RBI) on Saturday unexpectedly cut its key lending rate by 50 basis points to 7.5 percent and banks’ cash reserve requirements by 100 basis points to 5.5 percent, to infuse liquidity into the system.
Mr. K. Vaman Kamath
Managing Director and Chief Executive Officer
Mr. K. Vaman Kamath is the Managing Director and Chief Executive Officer of ICICI Bank Limited, India’s second largest bank. Mr. Kamath has a degree in mechanical engineering and a master’s degree in business administration from the Indian Institute of Management, Ahmedabad. He started his career in 1971 at ICICI, an Indian financial institution that founded ICICI Bank and merged with it in 2002. In 1988, he moved to the Asian Development Bank and spent several years in South-East Asia before returning to ICICI as its CEO in 1996. Over the next few years, the ICICI Group transformed itself into a diversified, technology-driven financial services group, that has leadership positions across banking, insurance and asset management in India, and a growing international presence. Mr. Kamath was conferred with the Padma Bhushan, one of India’s highest civilian honours, in 2008. He was named “Businessman of the Year” by Forbes Asia and The Economic Times’ “Business Leader of the Year” in 2007, Business Standard’s “Banker of the Year” and CNBC-TV18’s “Outstanding Business Leader of the Year” in 2006, Business India’s “Businessman of the Year” in 2005 and CNBC’s “Asian Business Leader of the Year” in 2001. He has been conferred with an honorary PhD by the Banaras Hindu University. Mr. Kamath is the President of the Confederation of Indian Industry and a member of the boards of the Indian Institute of Management, Ahmedabad and the Manipal University.
Like this article! |
|
|
|
|
(No Ratings Yet)
Loading ...17478 views
Comments
Grab a copy of CEOWORLD Magazine for $1 only!!!
