KV Kamath appointed as Independent Director of RIL

KV Kamath appointed as Independent Director of RIL: Reliance Industries has appointed KV Kamath as an independent director of the company for a five-year term. Based on the recommendations of the Human Resources, Nomination and Remuneration Committee, the Board of Directors meeting has considered the appointment of Shri K. V. Kamath and recommended it to the shareholders for approval.

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KV Kamath has also been appointed as an Independent Director and non-executive Chairman for Reliance Strategic Investment Limited (RSIL). RSIL will be renamed as Jio Financial Services Limited (“JFSL”) and the scheme of demerger approved by the board of directors for demerger of the financial services business.

About the K V Kamath:

Currently the Chairman of the National Bank for Financing Infrastructure and Development (NaBFID), Kamath has served as Chairman of Infosys. In 2015, he was appointed the first president of the new development bank created by the BRICS countries from which he will retire in 2020.

Under his leadership, ICICI Bank transformed itself into a diversified, technology-driven financial services group across banking, insurance and asset management in India, and a global presence. He retired as Managing Director and CEO in 2009 and continued as the Chairman of ICICI Bank till 2015.