The Central Government on Wednesday announced the appointment of veteran banker K V Kamath as Chairperson of the newly set up Rs 20,000 crore National Bank for Financing Infrastructure and Development (NaBFID).
In the month of March, Parliament had cleared the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 to support the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.
Department of Financial Services (DFS) said on Twitter, “New approach to building #AatmaNirbharBharat! Central Government has appointed Shri K. V. Kamath to the post of Chairperson, National Bank for Financing Infrastructure and Development, a newly set up DFI in India.”
New approach to building #AatmaNirbharBharat!
— DFS (@DFS_India) October 27, 2021
Central Government has appointed Shri K. V. Kamath to the post of Chairperson, National Bank for Financing Infrastructure and Development, a newly set up DFI in India.@FinMinIndia
It added, “Kamath, the first head of the New Development Bank (NDB) set up by the BRICS group of emerging market economies, had completed his five-year tenure last year.”
The 73-year-old banker, known among his friends as KV, began his career at the erstwhile development finance institution (DFI) ICICI in 1971. Back in 2008, when ICICI Bank was hit by widespread rumors of ‘run-ons’, Kamath led from the front and was instrumental in its complete turnaround.
