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| http://www.ndtv.com |
| Looking Forward to Serve Nations, Says BRICS Bank Chief KV Kamath
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| INDIA
, 15-May-2015
5:7:25 AM |
| Seasoned banker KV Kamath today thanked the Modi government for appointing him as the first president of New Development Bank (NDB) and said he would look forward to serving BRICS nations.
"I look forward to the establishment of the bank and commencement of its operations in the service of the BRICS nations," he said in a statement.
Earlier this week, the government had announced appointment of Mr Kamath as the first president of the $100-billion BRICS Bank named NDB.
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"I am honoured and humbled that the government of India has nominated me as the first president of the New Development Bank for the BRICS nations. I would like to thank the government for reposing confidence in me," he said.
Mr Kamath, 67, non-executive Chairman of the India's largest private sector ICICI Bank, will have a five-year term at the institution, which is likely to be operationalised within one year.
Leaders of the emerging economies of Brazil, Russia, India, China and South Africa (BRICS) had last year reached an agreement to establish the New Development Bank, with its headquarters in Shanghai.
As per the agreement, India got the right to nominate the first president
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