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.
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).
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.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
The Air Force Wives Welfare Association and the ICICI Bank on Thursday joined hands to launch a dedicated placement website which would provide a platform to the members to accomplish their career ambitions.
ICICI Bank chief Chanda Kochhar believes, India can grow if decisions on investment policy are taken quickly.
ICICI Bank chief executive officer and MD K V Kamath on Tuesday said that there is no need to alter interest rates since the demand for credit is not high.
The early bird results for the January-March 2022 quarter (Q4FY22) hint at a slowdown in corporate sector growth in the upcoming quarters. The combined net sales of the 81 early bird companies in the Business Standard sample were up 15.1 per cent year-on-year in Q4FY22; this was less than the 15.9 per cent YoY jump reported in Q3FY22. The slowdown could be much stronger for the domestic market-focused companies, including those in the banking, finance, and insurance (BFSI) space.
Six Indian women have made it to Asia's most powerful women list released by Forbes.
Post graduate colleges are aggressively tying up with banks to introduce banking courses.
SBI Life, ICICI Pru have seen their valuations increase by 33 per cent and 35 per cent recently. SBI Life Insurance has seen its valuation soar after just 3 months while ICICI Prudential's valuation has increased in just 5 months.
It is alleged that during the tenure of Chanda Kochhar, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies, in which in two cases she herself was on the sanctioning committees.
V Vaidyanathan joins a growing list of top executives getting a sumptuous sign-on bonus
In the first of a two-part series, Tamal Bandyopadhyay explains why the ICICI Bank's board first rushed to deny all allegations against Kochhar and then took the extreme steps against her.
Arundhati Bhattacharya, chairman of country's largest lender State Bank of India said demonetisation of high value notes won't be a problem as the bank has done it before.
ICICI Bank CEO and MD Chanda Kochchar, Biocon founder Kiran Mazumdar-Shaw and film producer Ekta Kapoor are among the nine Indian women named in Forbes magazine's inaugural 'Asia Power Businesswomen list'.
Justifying the transfer, the CBI pinned the blame on Mishra for keeping the preliminary enquiry pending without any reasons, they said.
The Reserve Bank has taken some steps to shore up the domestic currency.
The committee is considering 1,300 names for this year's awards from which it is likely to select 120.
The shareholders have been asked to vote on the proposals, which were approved by the board at the meeting on December 19, through postal ballot by February 11 and the results would be announced on February 13, the bank said in a notice to its shareholders. As per the proposals, Kamath would replace N Vaghul as the bank's non-executive chairman, after he retires on completion of his current term on April 30.
'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.
Private sector lender Axis Bank on Monday said its board has recommended the appointment of Shikha Sharma, currently chief of ICICI group's life insurance business, as its next managing director and CEO.
After the 25 basis point hike in the percentage of cash that banks must hold in reserve, bankers claim that liquidity will be comfortable but banks may hike interest rates. RBI has decided to increase Cash Reserve Ratio by 0.25 per cent to suck nearly Rs 9,000 crore (Rs 90 billion) surplus cash from the system, which would in turn temper demand for loans and help ease inflation. Some banks might pass it on to the customers. Banks would announce their decisions within few days
Mutual funds (MFs) managed a record Rs 66.2 trillion in assets during the July-September quarter, marking a 12.3 per cent increase over the previous three-month period - the highest quarterly jump in MF assets in at least five years. During the April-June period, the average assets under management (AUM) stood at Rs 59 trillion. The sharp rise in AUM, according to experts, is driven by a robust equity market rally and record inflows into equity schemes.
Largecap, flexicap, and balanced advantage funds together recorded a net inflow of Rs 9,363 crore in August, representing a 70% increase from the previous month's total.
Trade and economic issues, including visa, totalisation pact and impediments hampering investments, are likely to figure at Monday's US-India CEO Forum meeting, which will be jointly addressed by visiting US President Barack Obama and Prime Minister Narendra Modi.
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
The CII perception of Indian economy is strong as incremental capital-output ratio at 4-fares is better than China and Brazil, the ICICI chief said.
After receiving the award, Chanda Kochhar said, "As I see the list of past recipients of this honour, I feel inspired to be counted as one among them.
High interest rate, policy uncertainty in the year of elections, along with risk aversion led to slow takeoff in credit demand on the corporate front.
Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.
'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
The Prime Minister's call for austerity has taken corporate India off guard. MD & CEO, ICICI Bank, KV Kamath discusses the Prime Minister's comments and other issues facing the industry.
The index widened its loss towards the fag-end on emergence of intense selling in heavyweights like ITC, RIL and ICICI Bank. In percentage terms, however, Sun Pharma was the biggest loser with 9.39 per cent drop. Intra-day, the pharma major's shares tanked over 20 per cent.
A nervous energy that keeps you going, a passion to do something different, and the grit to tide over any crisis are the ingredients, say panelists at the TiE Summit.
India's second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
