Veteran banker KV Kamath has dismissed talk that he may be joining the government in a senior role.

The 72-year old Kamath, who has helmed ICICI Bank and the New Development Bank founded by BRICS countries, is being spoken of as someone whom Prime Minister Narendra Modi may tap for a senior role in government. An engineer by training and an alumnus of the prestigious Indian Institute of Management, Kamath has the expertise and contacts that Modi could use as he tries to rebuild an economy battered by the COVID pandemic.

"Absolutely no," Kamath said in an interview with CNBC-TV18. "Twice earlier, I have said that I need time. I am getting older as well and I need time to be with family, I need time to be with my grandkids, and every time I say this and few years pass and they get bigger and I get older."

Kamath also said that his thoughts were "always with the country."

"My thoughts are always with the country. Somebody like you talks to me and I get energized to share my 50 years of experience and that is what I will continue; put my thoughts on the table," he said.