Rural India has hit the headlines. India’s Congress party won the last election on the back of a revolt by the rural masses against the incumbent government. KV Kamath, managing director and CEO of ICICI, is looking for rural India to provide the bank with one of its biggest growth spurts.
There may, of course, be a political element to this: it will not be taken amiss by the new government in Delhi to hear about ICICI’s emphasis. But this does not detract from plans that could revolutionise banking in neglected areas of the country using the bank’s technological superiority.
