Kamath, India’s banking star, to head BRICS Development Bank
Nearly 10 months after the BRICS grouping of emerging economies firmed up the contours of a trailblazing multilateral bank for developing countries, India has named Kundapur Vaman Kamath as the first head of the BRICS Development
In a give-and-take, the leaders of the BRICS countries has decided at their summit in Fortaleza, Brazil, in July last year that the headquarters of the New Development Bank will be located in Shanghai and the first president of the bank will be an India.
The 67-year-old Kamath is the non-executive chairman of India’s second largest bank (by asset size and market capitalization), the ICICI bank and India’s third largest IT firm Infosys.
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