Puri earned a salary of Rs 7.39 crore in FY15, up 21.74% from last year
Kochhar has been issued a showcause notice by the regulator for alleged violation of the code of conduct.
Prime Minister's Office wants CBI and tax dept to identify the actual beneficiaries of the transactions made in India and abroad.
One of the reasons why conviction rates in India are poor is that "adventurism and megalomania overtakes our investigators and professionalism takes a back seat," Jaitley said on Twitter.
The RBI, according to the source, wants details on the procedure followed for credit appraisal by the bank while giving loans to Videocon.
However, the remuneration of Puri and Kochhar are not strictly comparable as the two banks follow different accounting practices.
The FIR also said chairman of New Development Bank K V Kamath, Goldman Sachs India chairman Sonjoy Chatterjee, Standard Chartered Bank CEO Zarin Daruwala, Tata Capital head Rajiv Sabharwal and Tata Capital senior advisor Homi Khusrokhan need to be investigated.
The CBI has filed a charge sheet against former MD and CEO of ICICI Bank Chanda Kochhar, her husband Deepak Kochhar and Videocon Group founder Venugopal Dhoot in a Rs 3,250 crore loan fraud case, officials said on Saturday. The agency has filed the charge sheet under sections 120-B (criminal conspiracy) and 409 (criminal breach of trust) of the Indian Penal Code (IPC) and provisions of the Prevention of Corruption Act, among others, they said. The Central Bureau of Investigation (CBI) has named nine entities, including companies and individuals, according to the officials.
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.
Fortune said the list has been compiled broadly on the basis of four criteria
The country's largest private sector lender, ICICI Bank, today said credit offtake will pick from July putting pressure on lending rates.
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.
A special court here on Thursday rejected Videocon founder Venugopal Dhoot's plea which claimed that his arrest by the Central Bureau of Investigation in the alleged loan fraud involving former ICICI Bank CEO and MD Chanda Kochhar was illegal. The CBI court also rejected applications of Chanda Kochhar and her husband Deepak Kochhar for home food, beds, mattresses and chairs. The court directed jail authorities to provide them diet food in consultation with the medical officer.
The Bombay high court on Friday heard prosecution and defence arguments on the applications of former ICICI Bank CEO and MD Chanda Kochhar and her businessman-husband Deepak Kochhar, challenging their arrest by the Central Bureau of Investigation (CBI) in an alleged loan fraud case, and reserved its verdict which will be delivered on Monday. The Kochhars, along with Videocon group founder Venugopal Dhoot, were arrested by the CBI late last month for their alleged roles in the case and the trio is currently in jail under judicial custody. The Kochhar couple has termed their arrest as "illegal" on the ground that no sanction was obtained prior to the CBI action as required under provisions of the Prevention of Corruption Act (PCA).
Rajiv Kochhar, who was asked to appear at the CBI office in Mumbai, was examined about the loan and his links with Venugopal Dhoot, the promoter of the Videocon Group, and Videocon.
Three Indian-origin women are amongst the Forbes' list of the world's most powerful businesswomen.
In Chanda's defence, one can always say, why would the Videocon Group take care of her husband as a quid pro quo to get a loan? After all, the group has taken money from the entire banking industry and ICICI Bank's share in the pie is not even 10 per cent. So, if it had a quid pro quo with Chanda to get the money, it must have had similar arrangements with other banks, too. If this is not the case, one must accept that it had got money from all banks, including ICICI, without any under-the-table conditions, points out Tamal Bandyopadhyay.
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.
'... not even a moral one, let alone a legal one.' 'Even if it is assumed that Deepak Kochhar tried to influence his wife into doing something dodgy for his 'social acquaintance', why would she do it?' 'By all accounts she has been granted share options in ICICI Bank of a very substantial amount which easily makes her a multi billion-pati.' 'She did not become CEO against some stiff competition by being stupid and concocting devious cock-and-bull renewable energy stories.' S Murlidharan, former managing director, BNP Paribas, unravels the Deepak Kochhar-Videocon controversy.
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 country's largest private sector lender ICICI Bank on Thursday said lending rates will start going up any time now, quite contrary to the SBI chairman's projection that borrowers can breathe easy till Diwali.
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.
The focus on rural areas ties in with the bank's strategy to use its branch network to source most of its loans, rather than direct sales agents. Its direct agriculture advances amounted to Rs 17,329 crore at the end of March 2010.
Chanda Kochhar said a large section of youth, mainly underprivileged have little access to training that can increase their employability.
With Pockets, ICICI Bank aims to target first-time customers.
It was merely an obligation in the past, but financial inclusion has now turned into a big business opportunity for private banks.
Institutional Investor Advisory Services had recommended investors to vote 'against' the proposal, while Stakeholders Empowerment Services asked investors to vote 'for' the proposal.
"I am complimenting the way in which one is managing finances, given the constraint that we are in", said Kochhar, ICICI Bank CEO and managing director.
ICICI Bank has asked the government not to take into account overseas securities like ADR and GDR when deciding on whether a bank is Indian or foreign.
Industrialists Anand Mahindra and Ratan Tata will co-host a power lunch for CEOs with the visiting US Treasury Secretary Timothy Geithner on April 7.
The finance ministry has voiced the opinion that there was no need for the RBI to increase the key rates that could impact the banks lending rates.
The overall inflation in March fell to 5.96 per cent, much below Reserve Bank of India estimate.
The bank would take a call on the subject once the laws are amended to hike foreign direct investment in insurance sector from 26 per cent to 49 per cent, ICICI Bank CEO and managing director Chanda Kochhar told PTI. This would help create value for the stake holders, she clarified while pointing out that ICICI Bank's share price had increased three times in the last six months to about Rs 750 a share.
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.
How Chanda Kochhar and her husband Deepak Kochhar find themselves in a huge controversy.
If India grows at 8 per cent, the Indian banks will grow much faster.
Kochhar brothers stepped down from the board of Credential Finance by 2009. While Deepak Kochhar started NuPower Renewables, Rajiv set up Avista Advisory Group
Sonjoy Chatterjee, executive director (ED) of ICICI Bank, has put in his papers and will soon join US-based investment bank Goldman Sachs in India, according to a person familiar with the development.
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.
Recent measures by Indian government to push economic reforms have dispelled fears of policy paralysis, while some more steps are needed for reviving investments and ensuring that household savings go into productive sectors, top banker Chanda Kochhar said.
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