FinMin added the Capital Adequacy Ratio of each bank is above 10 per cent, well above the regulatory requirement of nine per cent.
Indian benchmark indices Sensex and Nifty rebounded in early trade, tracking a recovery in global equity markets and an easing of hostilities between Israel and Iran, after a sharp fall in the previous session.
This is the first time ICICI Bank has gone for a share split.
The suspension is pending the bank's investigation into money laundering charges, sources in ICICI told PTI. The probe is expected to be completed in two weeks.
Indian benchmark indices, Sensex and Nifty, closed almost flat in choppy trade as investors remained cautious due to ongoing uncertainty in West Asia, relentless foreign fund outflows, and anticipation of the RBI's monetary policy decision.
Eight of India's top-10 most valued firms saw their combined market valuation increase by Rs 1,87,497.45 crore last week, with Bharti Airtel emerging as the largest gainer, reflecting a positive trend in the equities market.
Indian equity benchmark indices Sensex and Nifty rallied in early trade, driven by reports of a second round of talks between the US and Iran, which are fostering hopes for a resolution to the West Asia conflict, coupled with Brent crude oil prices trading below the USD 100 per barrel mark.
ICICI Bank plans to raise Rs 5,000 crore (Rs 50 billion) through long term bonds and has obtained highest safety rating "LAAA" from ICRA.
The country's second largest lender ICICI Bank on Tuesday said it has not raised home loan rates from August 1 and will take a view only if cost of funds goes up.
In addition, he will have to move swiftly to control any damage that may have been caused to the bank's image and investor confidence due to the loan controversy
Luxury carmaker BMW India and ICICI Bank signed an agreement on Friday for offering financing solutions.
The Supreme Court of India has issued a strong warning against the use of "non-existent, fake, and hallucinated" judgements generated by artificial intelligence (AI), likening it to "the release of methyl Isocyanate in the province of law and justice: invisible, insidious, and catastrophic." The court set aside an NCLT verdict that relied on such AI-generated precedents.
ICICI Bank, the country's second-largest bank on Friday hiked lending rates for new retail customers by 50 basis points and deposit rates by 50-100 basis points for deposits of 1-3 year maturities.
ICICI Bank has announced an increase of 1 per cent in its benchmark advance rate (I-BAR) and its floating reference rate for consumer loans, including home loans, with effective from February 9.
The overall market breadth was positive as 1,796 stocks advanced against 1,023 declining ones, on the BSE.
The Nifty's stunning 200-point jump in the final minute of trading wasn't a glitch. It marked India's shift to a new, globally accepted system of end-of-day price discovery.
Consensus continues to be cautious with analysts pointing towards tougher days ahead
ICICI Bank has revised interest rates on non-resident external savings account and NRE fixed deposit by 0.61 per cent and 0.47 per cent respectively across various maturities.
The board has decided to appoint Sandeep Bakhshi as managing director and chief executive officer. His appointment will be for a period of five years until October 3, 2023, subject to various approvals.
The Non-Resident Indians (NRIs) living in the US, UK, Canada and Singapore can now avail the benefit of a lesser tax deduction on their Non-Resident fixed deposit with ICICI Bank, a top bank official said in Mumbai. The NRO FD Plus offers the benefit of concessional rate of tax deducted at source (TDS) under the Double Taxation Avoidance Agreement (DTAA) of India with these countries, ICICI Bank General Manager and Head NRI Services Manish Mishra said.
Indian stock markets extended their gains for a third consecutive day, with the Sensex climbing 753 points and the Nifty closing above 24,550, driven by a drop in crude oil prices and optimism surrounding potential peace talks between Iran and the US.
Taking strong exception to the ICICI Bank's use of goondas against a defaulter to recover a two-wheeler financed by it, a consumer court has asked the bank to refund him the entire cost of the vehicle and Rs 20,000 as compensation.
The head of leading Indian bank ICICI Bank said on Monday he expected growth in the firm's retail business, which helped fuel better-than-expected third-quarter results, would continue into the fourth quarter.
ICICI Bank, the country's second largest bank, has sold roughly 45 per cent of its sticky home loans to the Asset Reconstruction Company India Ltd (Arcil) in a first step towards creating a market for retail loans that have turned bad.ICICI Bank sold Rs 360 crore of non-performing home loans at a price around the book cost, confirmed Rajiv Sabharwal, senior general manager, ICICI Bank.
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.
Delhi Police have arrested a man from Madhya Pradesh in connection with a multi-crore bank fraud case involving forged cheques and fraudulent withdrawal of funds from an Amity University account.
The BSE benchmark traded 44.43 points up at 76,521.93, and the Nifty quoted 17.20 points higher at 24,048.85. Track Stock markets on May 26.
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.
The RBI said it had not found initial evidence of money laundering against the three banks.
Sabare International, a Karur-based home furnishings company, has taken ICICI Bank to court over a foreign exchange derivative contract. The company has requested the Karur civil court to declare the contract void. This is the second company to have gone into a legal dispute with ICICI Bank after the Chennai-based Sundaram Multi Pap, which had alleged "mis-selling of certain foreign exchange derivative contracts for speculative purposes".
State Bank of India, the nation's largest commercial bank, may cut the interest rates it offers on deposits, Chairman A K Purwar said on Monday.
Amid criticism of its exposure to 'toxic' assets abroad, India's largest private sector lender ICICI Bank on Monday said its UK subsidiary has registered a $35 million (around Rs 160 crore) net loss for the half year ended September 30 on account of higher provisioning in its investments abroad.
The regulator in its notice alleged violations of the code of conduct because Chanda Kochhar reportedly had not disclosed the conflict of interest arising out of business dealings among ICICI Bank, Videocon and NuPower Renewables, led by her husband, Deepak Kochhar.
Equity benchmark indices Sensex and Nifty rebounded sharply by nearly 1 per cent on Monday, driven by strong buying in power, banking, and financial stocks.
The bank got the share in lieu of repayment of loan.
ICICI Bank on Saturday reported 24.7 per cent rise in consolidated net profit at Rs 6,092 crore for September quarter 2021-22. The private sector lender had posted a net profit of Rs 4,882 crore in the same quarter of the previous fiscal year. Total income however grew marginally to Rs 39,484.50 crore in the quarter from Rs 39,289.60 crore in the same period of 2020-21, ICICI Bank said in a regulatory filing.
The board of ICICI Bank, the country's second-largest lender, will take a final call on appointing a successor to K V Kamath, its present managing director and chief executive officer, next month.
