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KV Kamath to replace Nirmala Sitharaman as finance minister? Rumours afloat on the eminent banker's induction into Modi Cabinet

Team Latestly

New Delhi, June 1: Political circles and social media are abuzz with rumours that eminent banker Kundapur V Kamath may soon replace Nirmala Sitharaman as Union Finance Minister of India.

KV Kamath's recent exit as the president of the National Development Bank led by the five BRICS member countries has added fuel to speculations.

There has been no word from the government or the ruling Bharatiya Janata Party on whether Kamath is being considered for the Finance Minister's post. 

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Rumours about Kamath's induction into the Modi government have been doing rounds since past one week. "A little birdie tells me that ‘cometh’ the hour in North Block," Congress lawmaker Karti Chidambaram tweeted on May 30. The North Block building at Raisina Hill houses the office of the Ministry of Finance.

Similar reports had emerged in January this year after Sitharaman missed a meeting between Prime Minister Narendra Modi and businessmen and industry leaders. 

Who is KV Kamath?

KV Kamath, 72, has been associated with the banking industry for a long time. He is a former non-executive chairman of ICICI Bank beside chairman of the IT bellwether Infosys before joining the NDB. He is credited to have built the multilateral lending institution from the scratch.

He demitted office on as the president of the National Development Bank after completing his five-year tenure.

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Social Media Abuzz With Reports That KV Kamath Will Take Over as Finance Minister:

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