Kamath also said that the new bank, set up by India and four other members of the BRICS grouping, will strive to approve its first loan before end of the current fiscal.
After a gruelling 24 hours, the PhonePe team has fully restored UPI on the payment platform. The app is up and running again with ICICI Bank as its new partner with all payment instruments enabled.
The government on Wednesday announced the appointment of veteran banker K V Kamath as chairperson of the newly set up Rs 20,000 crore development finance institution NaBFID to catalyse investment in the funds-starved infrastructure sector. Parliament had in March cleared the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 to support the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.
The panel is believed to have examined each financial transaction between the Kochhar family and Videocon group, and the suspected trail of properties and assets that the family acquired since Chanda Kochar became ICICI Bank's MD.
The Yes Bank Reconstruction Scheme 2020, shall come into force on March 13, the gazette notification said.
While digitisation and automation have made internal processes more efficient, front-end products are being enhanced digitally through robotics, artificial intelligence and botchats.
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
Eight months after barring the country's largest private sector lender HDFC Bank from selling new credit cards, the Reserve Bank of India (RBI) has lifted the ban, banking sources said on Tuesday. However, the ban on launching new technology initiatives remains, the sources said. In December last year, the RBI had come out with an unprecedented
The government on Monday appointed former Sebi member Madhabi Puri Buch as chairperson of the Securities and Exchange Board of India.
M&M was the top loser in the Sensex pack, shedding over 2 per cent, followed by Dr Reddy's Bharti Airtel, Tech Mahindra, HUL, ICICI Bank and Infosys. NSE Nifty dropped 64.80 points to 14,341.35.
Recent rates cuts by most banks may not have a significant impact on margins, say analysts.
Bankers expect interest rates to remain stable in the short to medium term, as there is enough liquidity in the market.
Branch additions for most major banks in the current financial year do not correspond to the number of the past two years.
'The deal pipeline across products is robust for 2024.'
'The government should refrain from 'adventurism' and 'megalomania'.' 'But this should be true of reckless government action against every Indian, whether or not they are wealthy or have access to the finance minister even when he is in hospital,' says Aakar Patel.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
Home loans also pose lower bad-debt risks for the banks than corporate loans.
Until June 2018, the ICICI Bank board had given a clean chit to Kochhar with full backing and had said there was no question of favouritism, nepotism or conflict of interest on her part in granting loans to Videocon Industries or any other company. However, the stance changed soon after the regulatory and probe agencies initiated enquiry in the matter.
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.
How Chanda Kochhar and her husband Deepak Kochhar find themselves in a huge controversy.
Post graduate colleges are aggressively tying up with banks to introduce banking courses.
Shagun Kapur Gogia might not have convinced her uncle Rana Kapoor, managing director and chief executive of YES Bank, to appoint her as a board member of the bank, but it appears she has successfully carved out her own space in the financial world.
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
Anup Bagchi has been appointed Managing Director & CEO of ICICI Securities.
Equity benchmarks ended modestly higher on Friday after the Reserve Bank raised the key interest rate in an effort to cool stubbornly high inflation and defend the rupee. Continuous foreign fund inflows into the capital markets and softening crude oil prices also helped the bourses regain momentum, traders said. The 30-share BSE Sensex ended 89.13 points or 0.15 per cent higher at 58,387.93 after facing volatility during the fag-end of trade. During the day, it climbed 350.39 points or 0.60 per cent to 58,649.19. The broader NSE Nifty went up by 15.50 points or 0.09 per cent to finish at 17,397.50.
When your reputation is under attack, do not look for someone to blame, do not weasel out by citing technicalities, and do not sidestep responsibility. The to-do list forms this article. While you read it, send for Amitabh Bachchan
ED orders Chanda Kochhar to appear with asset lists also provide income-tax returns in her individual capacity and of companies if she was a director or held any position.
The mass cancellation of coal blocks by the Supreme Court has sent banks in a jittery mode as they have extended over Rs 1 lakh crore loans to power plants that were fed by these mines.
The CEO of ICICI Bank is the third Indian in four years to win the accolade.
Leading brokerages have revised their charges with the true-to-label norms by the Securities and Exchange Board of India (Sebi) kicking in from Tuesday.
The spike at private sector lenders like ICICI Bank and Axis Bank follows a push to grab market share from India's dominant state banks.
US bank Citigroup on Wednesday announced the sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets.
She said 30 basis points (0.30 per cent) rate cut has already happened.
Chanda Kochhar, Managing Director and Chief Executive Officer of ICICI Bank talks about the education system in India and offers advise on how parents can help in the decision making process of a child's career.
The opening ceremony was held in China's financial capital.
The ministry informed the tribunal that former head of ILFS Financial Services Ramesh Chandra Bawa withdrew/transferred Rs 1 crore and Rs 14 lakh from Axis Bank accounts in two instances which are in violation of the December 3, 2018 order of the tribunal which had frozen these accounts.
Kundapur Vaman Kamath, managing director and chief executive officer of ICICI Bank, has been chosen Business Standard's Banker of the Year for 2005-06.
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