Mumbai: Companies should make corporate governance a part of their internal process where it does not remain a mere form filling or box ticking exercise, ICICI Bank's non-executive chairman K V Kamath said here today.
“Do not look at corporate governance as a form filling, box ticking exercise. This is a big process that starts within the company or may be it starts at the board room level and it has to be spread across the company,” Kamath said at a corporate governance summit organised by industry body CII.
Corporate governance is an evolutionary process in terms of what is required to be internalised by the companies, he said, adding, “the fact is it is not been internalised by most of the companies”.
He also backed the Reserve Bank governor Raghuram Rajan for leaving key interest rates unchanged. “I think it is a very appropriate step,” Kamath told reporters later.
Unless there is a momentum in the infrastructure sector, the country's growth will be very incremental, he said.
Talking about the impact of US Federal Reserve's decision to start tapering, Kamath said, “Indian market has tried to factor in that there would be tapering and we need to adjust with it.”
He said the tapering may result in some outflows, but it would not disturb the markets.
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