Veteran banker KV Kamath. (Photographer: Graham Crouch/Bloomberg)
For about the first four decades of its existence, ICICI Bank Ltd., which KV Kamath eventually headed as the chief executive officer, was a development finance institution. Together with IDBI Bank Ltd. and later IDFC Ltd., these institutions were intended to help finance the country’s infrastructure development.The model, however, proved challenging and most, including ICICI, made the transition to universal banking, with Kamath lead...