There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
Companies listed on the National Stock Exchange (NSE) main board increased their Corporate Social Responsibility (CSR) expenditure by 23 per cent year-on-year to Rs 22,212 crore in 2024-25 (FY25), driven by a significant jump in average net profits, according to a PRIME Database Group report.
ICICI's board has denied any wrongdoing, highlighting that the loan was underwritten in accordance with the bank's credit standards and was extended as part of a consortium involving over 20 banks.
ICICI Bank reported good results for the October-December 2023 quarter (Q3), with 24 per cent year-on-year (Y-o-Y) growth in profit after tax (PAT). Net interest margin (NIM) dropped 10 bps quarter-on-quarter (Q-o-Q) to 4.43 per cent. Credit growth was at 19 per cent Y-o-Y (4 per cent Q-o-Q), while deposit growth was at 19 per cent Y-o-Y (3 per cent Q-o-Q).
Kamath also served on the board of Infosys.
Bank had no obligations to Perdaman, the judge said.
Banks and NBFCs are launching festival offers, including lower loan rates, cashback, EMI schemes and GST-linked benefits to tap rising demand ahead of Diwali
Kochhar's counsel argued that according to Section 35B (b) of the Banking Regulation Act, prior approval of the RBI is required to terminate the contract of a bank's chairman or managing director. But in this case, the RBI approval came after the termination letter was served.
A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.
All three Bharti group companies outperformed in CY25 but the biggest gain came from Bharti Airtel, the flagship.
Microcredit Foundation of India, which is running microcredit programme in Tamil Nadu in partnership with ICICI Bank, has fixed a target of providing credit of over Rs1250 crore (Rs 12.5 billion) to one million women by March 2008.
NuPower will return loan with interest to consumer durables major by 2021
Real estate major Parsvnath Developers may soon be able to reduce a significant chunk of its debt, thanks to certain corporate giants showing interest in buying a prime piece of property it owns in the national capital.
ICICI Bank has 317 branches in hitherto unbanked villages.
With the 50 bps rate cut now more banks are expected to reduce their base rate.
Among Sensex firms, HCL Tech, ICICI Bank, Titan, Trent, Kotak Mahindra Bank, Hindustan Unilever, Mahindra & Mahindra and HDFC Bank were the major laggards. However, Adani Ports, Bharti Airtel, SBI, NTPC and Sun Pharma were among the gainers.
Worries about global politics and trade are pulling the Nifty 50 down. Experts say the market could drop further low.
Profit taking in index heavweights RIL and HDFC weighed on sentiment while ICICI Bank surged 7%.
ICICI Bank has quashed rumours of favouritism, nepotism and quid pro quo. The bank clarified that while Chanda Kochhar was on the credit committee, she was not the chairperson. Videocon Chairman Venugopal Dhoot said there was no impropriety in the deal.
Prime Minister's Office wants CBI and tax dept to identify the actual beneficiaries of the transactions made in India and abroad.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
In November, six primary market issuances accounted for more than 13,000 crore of net equity investments by MFs.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
'Do exhaustive research and then select the one that best fits your budget and requirements.'
From the Sensex firms, Bajaj Finance, Infosys, Hindustan Unilever, ICICI Bank, HCL Tech, UltraTech Cement, Bajaj Finserv, State Bank of India, Tata Consultancy Services, Reliance Industries, Axis Bank and Larsen & Toubro were among the major gainers. However, Trent, Tata Steel, Tech Mahindra and Maruti were among the laggards.
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
'We focused on de-risking our balance sheet but we are very clear that the steps we have taken over the past few years, about changing the proportion of the loan mix, improving the ratings of the incremental portfolio, and reducing the concentration risks have now created a strong position that will allow us to attain growth with stability.'
Moreover, all her existing and future entitlements such as any unpaid amounts, unpaid bonuses or increments, unvested and vested and unexercised stock options, and medical benefits will be revoked.
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
ICICI Prudential Life Insurance (IPRU) disappointed the market even though some analysts said the Q3FY25 results were in line. Most analysts cut margin estimates. The insurer reported M9FY25 growth of 8.5 per cent year-on-year (Y-o-Y) in value of new business (VNB) premium to Rs 1,575 crore, while total annual premium equivalent (APE) grew 27.2 per cent to Rs 6,910 crore.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
India's financial sector is dominated by large government-owned and private-sector banks.
Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
An app by the bank lets customers carry out a slew of banking functions via the social media site.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Prism, the parent firm of global travel tech unicorn Oyo, has filed preliminary papers with market regulator Sebi to raise Rs 6,650 crore through an initial public offering (IPO) using a confidential route, people familiar with the development said on Wednesday.
ICICI Prudential Life Insurance Company (IPru) is struggling to generate growth in the value of new business (VNB). This is due to a combination of weak growth through the parent bank's channels, a shifting product mix in favour of unit-linked life insurance policies (ULIPS), and higher payouts to third-party channels. Leverage from current investments, a further reduction in contributions from ICICI Bank, and a pick-up in non-participating policies from the end of the year is key for this metric in the near to medium term.
India's corporate bond market, driven by public sector undertaking (PSU) banks and financial institutions last year, is losing momentum since the second quarter of FY26.
After two years of strong gains, smallcap stocks fell sharply in 2025, but the correction may be setting up opportunities for long-term investors.
