The Supreme Court on Friday refused to entertain former ICICI bank managing director and CEO Chanda Kochhar's plea seeking retirement benefits from the bank. A bench of Justices Sanjiv Khanna and SVN Bhatti said, "Not a case for interference. We are not inclined to interfere with the high court order. "The special leave petition is dismissed." At the outset, senior advocate Harish Salve, appearing for Kochhar said the high court had dismissed the petition without any discussion or finding.
PepsiCo CEO Indra Nooyi and ICICI Bank Managing Director Chanda Kochhar are among Fortune magazine's list of 50 most powerful women in business who are "taking on the world" by pushing into new territories and inspiring women in their home countries.
The CBI later clarified that Rajiv Kochhar was only called for questioning and has not been apprehended yet.
India-born PepsiCo chief Indra Nooyi figures among the top10 in 2013.
The board has decided to appoint Sandeep Bakhshi as managing director and chief executive officer. His appointment will be for a period of five years until October 3, 2023, subject to various approvals.
These are the highest-earning bank CEOs in India.
The head of India's largest private sector bank, who is in Davos in this Swiss Alpine resort town for the World Economic Forum Annual Meeting, said that the central bank has already in its last policy statement, indicated monetary policy easing in the fourth quarter of the current fiscal.
The visiting US treasury secretary Timothy F Geithner today said Washington will closely work with New Delhi to promote a more balanced and greater economic cooperation between the two nations.
Foreign direct investment (FDI) norms that classify ICICI Bank as foreign-owned were unlikely to impede the group's expansion plans, said ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar.
We are clearly focused on increasing our loan book in segments such as auto loans, home loans, commercial vehicles finance and corporate loans, says Chanda Kochhar.
"At best, the two can be called as Indian-controlled banks," DIPP secretary R P Singh said when asked about the government's stand in the wake of the two seeking clarifications on the matter.
The country's largest private sector lender, ICICI Bank, today said credit offtake will pick from July putting pressure on lending rates.
The strong commitment to managing the government borrowing programme in a manner that is non-disruptive to markets and does not crowd out private sector investment should give confidence to market participants, ICICI bank's managing director & CEO, said.
'At the same time, we will allow unsecured loans to go off.'
Describing the third quarterly performance of the bank as 'very positive', ICICI Bank managing director and CEO Chanda Kochhar said on Monday the bank has emerged stronger on all parameters recording an operating profit of 22 per cent minus treasury income.
The RBI, in its third quarter monetary policy review, raised by 75 basis points (to 5.75 per cent) the mandatory deposits banks need to park with the apex bank to tame inflation. The move is likely to suck Rs 36,000 crore (Rs 360 billion) out from the system.
We plan to hire around 5,000-7,000 people this fiscal. We have also declared bonus and increments for our employees," ICICI Bank's managing director and chief executive, Chanda Kochhar, told reporters after inaugurating the 2000th branch of ICICI Bank in Mumbai on Monday.
Enthused by government's commitment to act proactively and ensure more liquidity to promote economic growth, ICICI Bank managing director K V Kamath on Monday promised to review interest rate in the next few days.
The country's largest private bank, ICICI Bank, on Friday said it is focussing on the home loan segment as the real estate segment is witnessing a comeback after the economic slowdown.
Amid a string of interest rate cuts by state-run banks since April 1, country's biggest private lender ICICI Bank today said chances of it reducing rates are less unless government bond yields come down.
Bankers on Tuesday said interest rates have bottomed out in the second quarter and rates may start rising in the coming months in line with a pick-up in credit off take, expected on the back of a revival in the economy.
"We would continue to focus more on home, car loans," ICICI Bank managing director & CEO Chanda Kochhar told reporters on the sidelines of a conference on Tuesday.
The 46-year-old, who grew up in Jaipur aspiring to be an IAS officer, is known to put in long hours.
ICICI Bank's Managing Director and Chief Executive K V Kamath is of the opinion that inspite of the marginal dip in growth India's long-term economic growth potential remains sustainable. However, he said the growth may slip from the previous 10 per cent level to around 8 per cent this fiscal. The services sector, contributing 60% to GDP, will help sustain the growth path. He said present inflation is a supply-side phenomenon and is not due to any over-heating in the economy.
Pictures from the Swachh India campaign.
Public sector lenders Canara Bank, Corporation Bank and Allahabad Bank have decided to lower interest rates on housing loans, preferring to keep their prime lending rates (PLRs) unchanged. ICICI Bank Managing Director and Chief Executive Officer K V Kamath has indicated that the country's second largest bank would review interest rates only in 2008-09.
Top private lender ICICI Bank plans to open nearly 600 branches this year, but will not hire as part of the current workforce would be redeployed to manage the expanded network of 2,000 branches.
Forecasting that inflation is inching towards zero, ICICI Bank managing director and chief executive officer K V Kamath on Tuesday suggested to the Reserve Bank of India to further cut key policy rates by 100 basis points as part of a calibrated move to usher in a low interest rate regime.
The banking regulator is scheduled to come out with its monetary policy for FY 09 on April 29. "We will wait for the (RBI's) policy statement before taking any decision on our interest rates," ICICI Bank Managing Director & CEO K V Kamath told reporters on the sidelines of an Indian Merchants Chamber-organised press conference in Mumbai on Thursday. Interest rate decisions would also be influenced by prevailing market conditions, Kamath said.
Terror attacks in Mumbai will impact capital flows in the short term, ICICI Bank managing director and chief executive officer K V Kamath said in Mumbai.
The rapidly growing banking, financial and services industry sector in India is expected to create about a million jobs every year for the next five years
Inflation may rise again as global crude oil prices continue to soar touching an all-time high of $90 last week, besides, rising food prices in the domestic market. On the issue of interest rates, Kamath said the bank would wait till the ensuing mid-term policy, due on October 30, before taking any decision.
Banking is all about leveraging, the ICICI boss said.
ICICI Bank, the country's biggest private lender, expects overseas business to account for at least one-fourth of its balance sheet in 2008 and is targeting a place among the world's top ten banks within five years.
ICICI Bank, the country's largest private lender, on Wednesday ruled out any interest rate hike in the near future and said it was rebalancing its portfolio.
Shah Rukh Khan's image and popularity with the Non-Resident Indian segment will further reinforce ICICI Bank's global identity, the bank said in a statement.\n
ICICI Lombard General Insurance Company Ltd will consider an initial public offering on reaching an overall market share of around 10 per cent even as ICICI Prudential Life Insurance plans to increase its capital base in the current fiscal.
ICICI Bank has identified rural credit as the next growth platform for which it had decided to leverage the role of micro-credit organisations.
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