Monetary tightening wont affect firms: Kamath

He said firms were now looking at banks as just a supplement route for raising finance. Asked whether any pent-up demand was being witnessed in corporate borrowings, Kamath said that it was not pent-up demand but corporate lendings for new projects,and within new projects,corporates were focusing on infrastructure.

Kamath saw no challenge in terms of funding irrespective of the global situation. We are self-sufficient to fund our own projects. Corporate clients are on their growth path on their own because they are facilitated by very strong internal cash accruals and a very buoyant equities market which is giving them all the funding resources they want, he said.

Growth would continue to take place,he said,adding,We should keep our eyes on our intent to invest and whether actual investment is happening or whether we are straying away from that.

Kamath further said the next 10 years held an immense growth potential and Indias GDP as well as per capita income would double. I see in the next 10-years GDP and per capita income will double.

He felt that an 18 per cent credit growth was quite possible because we are a growing economy. But even if it were to fall short,Kamath said he would not be worried as long as investment and output did not suffer.

Asked about the prospects for the rupee,Kamath said,If we continue to do well,then we will have a bias towards a strengthening rupee.