New Development Bank (NDB) President K V Kamathsays the Beijing-based institution will lend over a $1 billion this year and hopes to raise this to about $2.5 billion next year. He tells Archis Mohan that the BRICS Bank, as it is popularly called, will come out with the rupee-denominated bonds next year in offshore markets. Amid demand for more capital infusion in public sector banks, Kamath says interest rate cuts and consequent correction in bonds would lead to gains for these lenders. He says a year or 18 months down the line, investments will pick up in India, but not through lending. Excerpts:
How has it been building a new organisation?
It’s a start-up (laughs). It has been a great experience. I always love learning. When ICICI was built, I had a core team from which it was scaled up, not built up. The superstructure was there, we had…
View original post 2,182 more words