ICICI Bank is seeking recoveries of at least 100 crore from fintech firms, alleging merchant misclassification of their business, a practice that has eroded the bank's interchange income. The dispute, lodged with global card network Visa, highlights growing discomfort among banks and intensified scrutiny from the Reserve Bank of India.
The incident involved compromise of an employee's email account, resulting in unauthorised access to certain data.
ICICI Bank share price hits record high, ICICI Bank m-cap tops $100 billion: Shares of ICICI Bank have been on a steady uptrend, rising 30 per cent over the past one year; not far behind Axis Bank stock that surged over 34 per cent during the period. The BSE Sensex, meanwhile, is up 25 per cent, and the BSE BANKEX 22 per cent in the last one year, ACE Equity data shows. On Wednesday, June 26, ICICI Bank shares hit a fresh record high for the third consecutive day, rising 2 per cent on the BSE in the intraday trade.
Manappuram Finance has announced the appointment of Ashish Singh as its new managing director and chief executive officer, effective January 1, 2027, marking a significant shift from its family-led governance structure.
The branch is likely to be inaugurated on Saturday by Prime Minister Narendra Modi, who is on a three-day visit to China
ICICI Bank has inked a pact with the Jammu and Kashmir Bank to share ATM network, providing the customers of both the banks access to about 2,000 ATMs in the country.
ICICI Bank has a network of 1,416 branches and over 4,600 automated teller machines across the country, which it manages by itself, while several other banks have outsourced their ATM management and POS (credit and debit card payment accepting) terminals.
The largest private sector lender is also looking to open a full-fledged branch in China, where it already has a representative office, managing director and CEO, Chanda Kochhar said during the bank's 19th annual general meeting in Vadodara.
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.
Luxury carmaker BMW India and ICICI Bank signed an agreement on Friday for offering financing solutions.
Top private lender ICICI Bank plans to open nearly 600 branches this year, but will not hire as part of the current workforce would be redeployed to manage the expanded network of 2,000 branches.
Treasury gains helped ICICI Bank post a nearly 10 per cent increase in the consolidated net profit for the April-June quarter at Rs 11,696 crore on Saturday. Growth in the core income slowed for the country's second largest private sector lender, but the treasury operations helped it report a 14.62 per cent rise in its post-tax profit at Rs 11,059 crore on a standalone basis. The core net interest income (NII) growth came at a multi quarter low of 7.3 per cent to Rs 19,553 crore for the reporting quarter.
Prism, the parent company of OYO, has filed updated draft papers with Sebi for a Rs 6,650 crore initial public offering (IPO) consisting entirely of a fresh issue of shares, with no offer-for-sale component from existing investors.
ICICI Bank on Saturday said its March quarter consolidated net profit grew 18.5 per cent to Rs 11,672 crore, helped by lower provisions. On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in its profit after tax at Rs 10,708 crore for the reporting quarter against Rs 9,122 crore in the year-ago period. For fiscal 2023-24, its standalone net profit grew to Rs 40,888 crore from Rs 31,896 crore a year ago.
Aditya Puri is one of the cleanest examples we have, in Indian corporate history, of a leader who understood early that the measure of his work was not what happened while he was in the chair. It was what would keep happening when he was no longer there, says Suresh M K.
ICICI Bank has 317 branches in hitherto unbanked villages.
If India grows at 8 per cent, the Indian banks will grow much faster.
The Infinix Note 60 Pro is now on sale across India -- the entry model is equipped with 8 GB memory and 128 GB storage. It is priced at 31,999.
ICICI Bank on Monday said it sees no impact of the Greek debt crisis on the bank as it has no exposure to Europe.
An app by the bank lets customers carry out a slew of banking functions via the social media site.
In a two-way tie up with two leading private sector banks, State Bank of India has forged one of the biggest alliances to share ATM networks.
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.
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.
Over 50 per cent, or 660 stocks, from the BSE 1000 index recorded negative returns during CY25.
'If through growth and serving the customer we become number one, we will be very happy and very proud.'
After two years of strong gains, smallcap stocks fell sharply in 2025, but the correction may be setting up opportunities for long-term investors.
Several executives argue that UPI has the potential to grow tenfold, but warn that the absence of a monetisation model risks stagnating the real-time payments system, which has been recording all-time-high transaction volumes every year.
All 463 branches of BoR has started functioning as ICICI Bank's as per the directive of the Reserve Bank of India.
American technology giant Apple's chief executive Tim Cook on Wednesday met ICICI Bank's top brass at the country's largest private sector lender's corporate headquarters in Mumbai.
For over a decade, HDFC Bank consistently outperformed industry growth rates in both deposits and advances, maintaining impeccable asset quality. Amid a landscape where other banks struggled with soaring non-performing assets (NPAs), HDFC Bank thrived, eventually surpassing ICICI Bank to become the largest private sector lender in India. Its net interest margin (NIM) remained stable in the range of 4.1-4.4 per cent.
In a massive expansion drive, HDFC Bank is targeting over 1,000 branches by the end of this fiscal, a move that could help it overtake bigger rival ICICI Bank in terms of branch network.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
Murders disguised as accidents. In one horrifying case, a man insured his father, mother, and wife -- then allegedly killed them all. He claimed Rs 54 crore in insurance.
Commissions paid to mutual fund distributors (MFDs) increased by over 20 per cent for most large fund houses in 2023-24 (FY24), driven by a sharp market rally and strong inflows. The largest fund house, SBI Mutual Fund (MF), which now manages nearly Rs 10 trillion in assets, paid Rs 2,025 crore to its major distributors - 21 per cent higher than the Rs 1,675 crore payout in 2022-23 (FY23).
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
Banks have been quick to embrace the smartphone era. Their apps for financial transactions promise ease, convenience and freedom from rigmarole.
