The report concluded that she failed to discharge her fiduciary functions to rescue herself to avoid any conflict of interest.
Former ICICI Bank CEO and MD Chanda Kochhar was granted bail by a special PMLA court in Mumbai on Friday in connection with the ICICI Bank-Videocon money laundering case. The special court for Prevention of Money Laundering Act (PMLA) had on January 30 summoned Chanda Kochhar, her husband Deepak Kochhar, Videocon Group promoter Venugopal Dhoot and other accused in the case after taking cognisance of the Enforcement Directorate's (ED) charge sheet.
A seasoned banker with over 30 years of experience, Bakhshi is a mechanical engineer from Punjab Engineering College, Chandigarh. He has a post-graduate degree in management from Xavier Labour Relations Institute.
ICICI Bank plans to grow aggressively by opening 60 more branches this fiscal and aims to increase its retail assets to Rs 33,000 crore in 2004-05.
ICICI Bank, the country's largest private sector bank, is planning to raise $1 billion through issuance of medium term notes for funding the growth of its overseas operations.
Most legal experts indicate the former ICICI Bank CEO will take the matter to court. Her contention will be she can't be fired and called guilty without proof.
The bank has received authorisation to collect funds for PPF at branches mandated by the ministry of finance, ICICI Bank said in a release in Mumbai on Friday.
It appears the two banks are now convinced that increasing their credit card portfolios will not lead to significant erosion in asset quality.
Indian benchmark stock indices, Sensex and Nifty, advanced for the second consecutive day, driven by softening crude oil prices and a positive trend in global markets. Despite some profit-taking in IT and metal shares, auto stocks outperformed, contributing to the overall gains.
Indian benchmark indices Sensex and Nifty experienced volatility due to conflicting developments in West Asia, including reports of the Strait of Hormuz closure, which led to a rebound in crude oil prices and heightened investor concerns about supply disruptions and inflation.
On Friday, the bank's offices and ATMs in Gujarat were faced with anxious customers and a spate of withdrawals as rumours of its viability spread.
What is the reason behind this drying up of talent for the top post in private banks?
ICICI Bank will honour top retailers and professionals for their innovations to satisfy and retain customers apart from increasing profits on Thursday.
In a bid to tap the growing potential of mutual fund business in the country, ICICI Bank has decided to raise its stake in Prudential ICICI Asset Management Company to 51 per cent, by buying out six per cent stake from Prudential Plc.
Prudential plc has announced its acquisition of a 75 per cent stake in Bharti Life Insurance for approximately 3,500 crore, a strategic move to secure majority ownership in the Indian life insurance market. This acquisition necessitates Prudential reducing its holding in ICICI Prudential Life Insurance to below 10 per cent.
The bank has fixed the issue price of its American Depository Shares at $26.75 per ADS.
Move comes as stringent regulation chokes biz growth.
Indian benchmark indices Sensex and Nifty experienced a decline due to renewed geopolitical concerns in the Strait of Hormuz, a strained US-Iran ceasefire, and the rupee hitting a record low against the US dollar.
Indian stock market benchmark indices Sensex and Nifty closed nearly one per cent higher, extending their winning streak for a second day. This rally was driven by softening crude oil prices, positive geopolitical developments, and significant buying in blue-chip IT stocks, despite a broader global tech sell-off.
The public issue of equity shares of ICICI Bank in India, of Rs 5,000 crore (Rs 50 billion) with a greenshoe option of Rs 750 crore (Rs 7.50 billion) will open for bidding through the book building route from December 1 to December 6.
MD Chanda Kochhar says the facility 'has the potential to increase security and convenience'
The consolidated net rose 22 per cent year-on-year.
They will also have access to banking channels such as ATM, mobile and Internet banking.
A day after downgrading its rating of public sector lender SBI's financial strength, Moody's on Wednesday re-affirmed its rating for ICICI Bank and said the private sector lender continues to maintain a robust franchise and a strong liquidity, capitalisation and earnings profile.
India's market landscape is undergoing significant shifts, with bank-backed brokerages potentially regaining dominance over discount platforms due to regulatory changes and increased taxes, while the IPO pipeline faces a slowdown amid heightened global volatility.
The bank is using readily available satellite images from ISRO and NASA for the purpose, and plans to scale up to 63,000 villages in the next three months.
The bank has 1.8 lakh customers with no-frills accounts, which provide basic banking services without the need to maintain a large minimum balance.
We are clearly focused on increasing our loan book in segments such as auto loans, home loans, commercial vehicles finance and corporate loans, says Chanda Kochhar.
A case has been registered against Karvy Stock Broking Ltd promoter C Parthasarathy and others for allegedly cheating ICICI Bank to the tune of Rs 563 crore.
Chidambaram clears holding company for insurance & mutual fund subject to RBI clearance.
ICICI Bank, the country's largest private sector lender, has introduced an equated monthly instalment (EMI) option for its customers on debit card purchases.
The smartphone goes on sale from June 19 via Amazon and will be available in Asphalt Black, Nitro Blue and Turbo White finishes.
Despite the Finance Minister asking public sector banks not to hike home loan rates, top private sector lender ICICI Bank, accounting for 30 per cent of home loans, has said all lenders would have to increase rates for their own survival.
While affirming the bank financial strength rating and a stable outlook on all ratings, Moody's said in its rating action note that the long-term bank deposit and senior unsecured debt ratings for ICICI Bank UK are being changed from Baa1 to Baa2, which is similar to the Indian parent's senior debt rating.
Indian benchmark equity indices Sensex and Nifty closed higher, recovering from previous losses, driven by a global market rebound, a pause in Israel-Iran hostilities, and a rally in bank stocks.
FinMin added the Capital Adequacy Ratio of each bank is above 10 per cent, well above the regulatory requirement of nine per cent.
