The Central Government announced that veteran banker K. V. Kamath has been appointed as Chairperson of the newly-constituted National Bank for Financing Infrastructure and Development (NaBFID).

Kamath was the first Chief of the New Development Bank (NDB) set up by the BRICS Groups of emerging market economies. He had completed his five-year tenure last year. He had begun his career at erstwhile development finance institution (DFI) ICICI in 1971. He retired as Managing Director and CEO in April 2009 and became its non-executive Chairman.