Kamath was born on 2 December 1947 in Mangalore, Karnataka. He spent most of his early years in Mangalore, and attended a Kannada-medium government school. After matriculation, he completed his PUC (Pre-University), which at that time was only one year in length, at St. Aloysius College. After completing his PUC, he joined National Institute of Technology Karnataka, Surathkal (known at that time as Karnataka Regional Engineering College) for a Bachelors Degree in Mechanical Engineering. After graduating from NIT Surathkal in 1969, he joined the Indian Institute of Management, Ahmedabad (IIM-A) for a Post Graduate Diploma in Management.
After graduating from IIM-A in 1971, Kamath started his career with ICICI (Industrial Credit and Investment Corporation of India) in the Project Finance division and moved on to different departments to gather experience, including establishing new business lines such as leasing, venture capital, and credit ratings as well as handling general management responsibilities. As part of his general management responsibilities, he initiated and implemented ICICI's computerisation program.
Kundapur Vaman Kamath, commonly referred to as K.V. Kamath, has served as the Chairman of Infosys Limited, the second-largest Indian IT services company, and as the Non-Executive Chairman of ICICI Bank, India's largest private bank. Kamath also served as ICICI Bank's Managing Director and CEO from May 1, 1996 until his retirement from executive responsibilities on April 30, 2009.
Kamath took charge as the Chairman of Infosys from N R Narayana Murthy on August 21, 2011.Before serving in this position, he was the Non-Executive Chairman of the company from May 2, 2011. Kamath also serves as an Independent Director on the boards of the Houston-based oil services company Schlumberger and the Indian pharmaceutical manufacturer Lupin. He is also a member of the Board of Governors of the Pandit Deendayal Petroleum University.
In 1988, Kamath joined the Asian Development Bank, Manila in their Private Sector department. His principal work experience at ADB was in various projects in China, India, Indonesia, Philippines, Bangladesh, and Vietnam. He was the ADB representative on the boards of several companies.
In May 1996, Kamath returned to ICICI as its managing director and chief executive officer. Kamath was instrumental in expanding the Group's services to the retail customers. He initiated a process of a series of acquisitions of non-banking finance companies in 1996–98 and led the way to the formation of ICICI Bank.
On 2 May 2011, he was appointed as Non-Executive Chairman of the second-largest software exporter, Infosys Ltd. (earlier Infosys Technologies Ltd.
K.V.Kamath has also been a Co-Chairman of the World Economic Forum's Annual Meeting in Davos and is a member of the Board of the Institute of International Finance.