Comparing India’s regulatory readiness with global peers, Kamath said that the country now stands among the world’s most adaptive jurisdictions.
The Chairman of Jio Financial expects that in the days to come Indian banks will only lend retail and market instruments and other entities will finance infrastructure and corporate capex
KV Kamath said companies should recognise the speed of changing technology in the context of risk, so that they are not left behind. He said managements must counsel their companies about the rate of change of Artificial Intelligence, and how businesses are going to use it.
My learning process ever since COVID has primarily been YouTube,” veteran banker KV Kamath stated at the Moneycontrol Fintech Conclave held in Mumbai on December 18.
Kamath said that the biggest mistake fintechs are making today is burning too much money because it is easily available to them
According to Kamath, fintechs are constantly building more and newer products without looking at business outcomes.
Kamath also addressed the issue of excessive hiring in the tech space, particularly pointing out that fintechs have overemployed engineers without a sufficient understanding of business fundamentals. "They need to understand business too," he added.
At the Moneycontrol Fintech Conclave, Kamath highlighted that broking is already facing disruption, and the next target could be Asset Management Companies
China plus one strategy, the outcome of the US presidential election to a possible return of private capex — veteran banker KV Kamath speaks exclusively to Moneycontrol
Starting from What sort of an impact the US selections or China + 1 strategy have an Indian economy to how the RBI has play a crucial role in the battle against inflation, KV Kamath, veteran banker, and chairman of Jio financial services spoke to Moneycontrol exclusively on a wide range of issue. In this exclusive chat, he also spelt out why the RBI is decision to go harsh on a few entities is justified and and banks need to pull up their socks on unsecured loans if a major shake up shouldn’t happen on the retail lending side. Kamath says he’s not worried about the patchiness in private capex, given how efficiencies are improving.
Regulator has to take action when it sees that practices are not appropriate or are lax, Kamath said.
According to Kamath, if PSU banks are self-sufficient on capital, the need for divestment is not clear
Speaking exclusively to Moneycontrol, Kamath has said while innovation cannot happen without being on the edge, it is important for companies to play within the boundary lines
"If I would have been in a bank today where there is no change and innovation, it would have been a nerve wracking experience for me," Kamath said.
Kamath does not see any loss of confidence in India in the global market and thinks that no single group can carve the future of India
"We need to understand, are we measuring it (inflation) right?.. One would need to look at CPI and other indicators, with more focus to understand in detail," Kamath told CNBC-TV18 in an exclusive interaction.
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.
Reliance Industries can leverage its NBFC licence, network of stores and existing telecom and retail customers for Jio Financial Services, the foreign brokerage said
Reliance Strategic Investments Limited, a wholly-owned subsidiary of RIL, also named Kamath as an independent director and non-executive chairman
From a capital deficit country, India is at a stage where “cash flows are sufficient to propel growth”, the National Bank for Financing Infrastructure and Development chairperson has said
There are important lessons now on how global inflation is being handled, said banking veteran KV Kamath in an exclusive interview with Network18.
The bank is set up to support the development of long-term non-recourse infrastructure financing in India, including development of the bonds and derivatives markets necessary for infrastructure financing.
Many of us hesitate in drafting a Will and making nominations. But the onset of Covid-19 has shown that life is uncertain. Inaugurating an initiative of the Association of Registered Investment Advisers (ARIA) to help stranded people cope with succession planning upon losing their loved ones to Covid-19, KV Kamath shared his views on the importance of timely planning your will. - He stressed upon the need to make nominations in our existing as well as new investments - Kamath also stressed upon the need to have standardisation of forms and processes required in succession planning Who is KV Kamath? KV Kamath was the former Managing Director and CEO of ICICI Bank and then its Chairman from 2009-15. He was also the Chairman of Infosys between 2011 and 2015. He came back to India last year from Shanghai where he served close to five years as the chief of the New Development Bank of BRICS countries.
The former chief of ICICI Bank and New Development Bank is particularly bullish on what he calls the 'digital supercycle' that has already created millions of jobs and spurred consumption, something that India hasn't yet fully factored in
From the bleakness of the pre-reforms era to the digital super cycle today, India has come a long way. KV Kamath, former President of the New Development Bank and one of India Inc's tallest leaders believes the digital super cycle is already having a huge impact on India but we haven't reckoned with it yet. He also spoke about why Fintechs will find it hard to succeed.