Udupi, June 26: Chairman of ICICI Bank K.V. Kamath has been selected for the K.K. Pai National Banking Award for 2012-13 in recognition of his outstanding contribution to banking development and his innovations in the field.
In a press release issued here on Monday, secretary of K.K. Pai Trust, Ammannaya, said that Mr. Kamath's name was unanimously recommended for the award by the awards panel constituted by the trust.
President of the trust T. Satish U. Pai, who chaired a meeting of the trustees, accepted the unanimous recommendation of the panel. The award presentation function is to be held in Manipal later this year.
Mr. Kamath, who completed his high school and pre-university education in Mangalore, did his B.E. at NITK-Surathkal and went on to do his M.B.A. at IIM-Ahmedabad.
Mr. Kamath started his career at the Industrial Credit and Investment Corporation of India. In 1988, he moved to the Asian Development Bank and put in years of service in South East Asia before returning to ICICI Bank as its managing director and CEO in 1996.
Under his leadership, the ICICI Group transformed itself into a diversified technology-driven financial services group that has leadership positions across banking, insurance and asset management in India and abroad.
Mr. Kamath was instrumental in implementing the concept of universal banking in India for the first time through ICICI Bank. He set the tone and standard for application of technology in banking for bettering customer service.
He retired as managing director and CEO in April 2009 and took up his present post as non-executive chairman of ICICI Bank.
Mr. Kamath joined the board of Infosys in May 2009 and took over as chairman of Infosys in August 2011.
He is the recipient of many awards such as 'Businessman of the Year' by Forbes Asia and 'Business Leader of the Year' by Economic Times in 2007 and CNBC's 'Asian Business Leader of the Year' in 2001. He received the Padma Bhushan in 2008.
He served as president of Confederation of Indian Industry (CII) in 2008-09. He is also a director of many institutions. He has been a co-chair of the World Economic Forum's annual meetings in Davos, the release added.
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