Chanda Kochhar has said the lender would consider rewarding its employees with bonus, which it skipped last year on account of poor performance.
While Chanda Kochhar got a pay of Rs 2.66 crore, Arundhati Bhattacharya took home only Rs 28.96 lakh
Kochhar was directed to return about Rs 10 crore in cash bonuses she had received as CEO, and also give up close to 6 million shares of the bank she had as stock option, which was about Rs 350 crore.
'I am not surprised that hubris brought Chanda Kochhar down. It would appear that as a person she thought she could do no wrong and as a leader she considered herself above what her company demanded of others in terms of financial probity and honesty. That, my friends, is NOT a good way for a leader to feel,' says S Muraleedharan, former managing director, BNP Paribas.
The cases under scanner include significant loan exposure of the bank to Videocon way back in 2012 and the alleged involvement of the Kochhar family in restructuring of that loan.
In April last year, tax authorities had questioned Deepak Kochhar over a Rs 405-crore investment by Accion Diversified Strategies Fund through its Mauritius subsidiary, DH Renewables Holding
These women are building billion-dollar brands, calling the shots in the financial markets, and crisscrossing the globe to broker international agreements and provide aid, the magazine noted
ICICI Bank on Sunday said there is also enough space for Chinese banks to play a complementing role in the India.
Interestingly, in March 2018, the same board of ICICI Bank had given a clean chit to Kochhar with full-backing and had said there was no question of favouritism, nepotism or conflicts of interest on her part in granting loans to Videocon Industries or any other company.
Its registration is unusual because the firm appears twice in the RoC database, but different identification numbers.
Six Indian women have made it to Asia's most powerful women list released by Forbes.
Fortune said the list has been compiled broadly on the basis of four criteria
On resolution of stressed cases, she said ICICI Bank has been taking the lead in several cases and was the first bank to refer a case to NCLT
Avista helped some companies restructure their debt in such a way that overseas investors had to take a steep haircut
While the rich and famous from across the world have assembled in Davos for their annual talk-fest and networking for business, many top Indian business leaders like Mukesh Ambani and Rahul Bajaj have given this year's WEF Annual Meeting a miss.
ICICI Bank MD and CEO Chanda Kochhar has been ranked as the most powerful businesswoman in India for the third consecutive year by Fortune Magazine.
Chanda Kochhar has been named as the most powerful woman in business in India for the second consecutive year by Fortune Magazine.
MD Chanda Kochhar says the facility 'has the potential to increase security and convenience'
Hinting at easing of borrowing costs for retail and corporate customers, ICICI Bank's new chief Chanda Kochhar has expressed hope that interest rates could fall to single-digit level in the coming months.
'When Pinnacle Trust bought the stake of Supreme Energy, it included a liability of Rs 640 million. The purchase was at a fair market value (prevailing price) of Rs 8.80 per share,' Deepak Kochhar said in a telephonic conversation with Business Standard.
A seasoned banker with over 30 years of experience, Bakhshi is a mechanical engineer from Punjab Engineering College, Chandigarh. He has a post-graduate degree in management from Xavier Labour Relations Institute.
Located in the banking hub of Singapore's central business district, the branch office is the start of ICICI's retail operations in the country under a 25-branch qualified Full Banking licence given by the Monetary Authority of Singapore in April, Kochhar said.
Shareholder advisory companies are raising eyebrows at the ICICI Bank board not being aware of Firstland's investment in NuPower
The executive suites of most major companies still remain largely boys' clubs, but things are improving.
Asked about top Swiss bank UBS AG, reeling under criticism for sheltering American tax evaders, agreeing to US government's demand for disclosure, Kochhar generally hedged queries saying Indian banks were not in that kind of business. Black money had become a major issue in the run up to the Lok Sabha polls in April-May, with BJP leader L K Advani claiming that $500 billion of Indian money was stashed in banks abroad.
Three Indians-- Congress president Sonia Gandhi, ICICI Bank head Chanda Kochhar and PepsiCo chief executive Indra Nooyi--have been named among Asia's eight top power women by American broadcaster CNN.
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.
The list has been topped by Amazon founder and CEO Jeff Bezos with Apple CEO Tim Cook coming in at the second place.
In an interview, Kochhar talks about how ICICI Bank had sensed the substantial rise in cross-border acquisitions by Indian companies and accordingly established presence overseas.
ICICI Bank chief Chanda Kochhar on Wednesday said "disruption" will happen in the industry due to technology and not because of the entry of new entities in the market.
"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 country's largest private sector lender, ICICI Bank, on Thursday slashed its benchmark lending rate by 50 basis points to 15.75 per cent, a move that would benefit the bank's home, auto, consumer and corporate loan borrowers.
"We always do not jump to hike in lending rates. We will see the overall impact before taking a call." \n
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.
Captains of the industry, including Adi Godrej and Anil Ambani, were among the early birds from India Inc to cast their votes in the financial capital.
Top business leaders to raise issues on investment, trade and the rupee
Bankers expect interest rates to remain stable in the short to medium term, as there is enough liquidity in the market.
Mukesh Ambani has got company of at least 29 fellow corporate executives, including four from his own group Reliance Industries, in terms of annual salaries running into crores of rupees for the latest fiscal.
India-born PepsiCo chief Indra Nooyi figures among the top10 in 2013.
The largest private sector lender is also looking to open a full-fledged branch in China, where it already has a representative office, managing director and CEO, Chanda Kochhar said during the bank's 19th annual general meeting in Vadodara.
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