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Home » India » Congress MP Karti Chidambaram hints change of guard at Finance Ministry

Congress MP Karti Chidambaram hints change of guard at Finance Ministry

Karti went on hinting on the name of next Finance Minister with his tweet.

By Newsd
Updated on :

The Congress MP and son of former Finance Minister Karti Chidambaram wrote a cryptic tweet hinting change of guard in Finance Ministry, popularly known as North Block.

His tweet reads as ” A little birdie tells me that “cometh” the hour in North Block”

He also went on hinting on the name of next Finance Minister which many on twitter is interpreting as KV Kamath, veteran banker and Founder, former CEO of ICICI Bank.

Former ICICI Bank Chairman K.V. Kamath (Kundapur Vaman Kamath) is seen as a front-runner.

Kamath was the Chief of the New Development Bank of BRICS (association of emerging national economies: Brazil, Russia, India, China and South Africa) countries.

Veteran banker KV Kamath demitted office as the president of the National Development Bank (NDB) on May 27, after completing his five year tenure. Marcos Prado Troyjo, former deputy economy minister of Brazil, will succeed Kamath as the new president of the Shanghai-based development bank created by BRICS nations to mobilise resources for economic development of member countries. The board of governors also appointed Anil Kishora, of the State Bank of India (SBI), as the vice president of the NDB to assist the emerging economies in infrastructure development loans.

Addressing the fifth and his last annual meeting of the NDB last month, Kamath said as he prepares to hand over to a new president, he is personally happy and satisfied to leave NDB as a full-fledged financial institution that “can proudly stand shoulder-to-shoulder with its peers.” “It has indeed been a privilege to serve as the first President of the Bank. It has been a learning experience to set up a global institution from scratch,” he added.

Kamath, who was appointed as the head of the BRICS bank on May 11, 2015, played a key role in consolidating the NDB, virtually setting it up from the scratch using his experience in the banking institutions in India.

Kamath, 72, was the non-executive Chairman of the ICICI bank beside Chairman of the IT bellwether Infosys before joining the NDB. Since its inception, the bank has funded billions of dollars to various infrastructure projects in the BRICS countries.

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