ICICI Bank will offer shares to Japanese investors without getting listed in Japan as a part of its upcoming Rs 2,300-cror
Anti-trust body MRTPC has issued a stern warning to ICICI Bank for selling insurance policies to its credit card holders without their consent and has asked it to stop the practice.MRTPC bench headed by Justice O P Dwivedi passed a cease and desist order and held it as an unfair trade practice to promote its business.
Intercontinental Exchange, which trades in energy derivatives, is in talks to buy ICICI Bank's holding in the National Commodities and Derivative Exchange.
India's largest private lender ICICI Bank has been fined Rs 220,000 ($5,120) by Hong Kong's Securities and Futures Commission for breach of licence rules and was ordered to further reimburse investigation costs.
The charges would apply to savings as well as salary accounts
Top private sector lender ICICI Bank has decided to discontinue its co-branded credit card with Kingfisher Airlines in the wake of continued grounding of the debt-laden air carrier.
The revision will make corporate and consumer loans, including those for homes and auto, expensive for new borrowers.
The insurer is a venture between banking major ICICI Bank and the UK's Prudential Corporation Holdings. Singapore's Temasek and Premji Invest are also the shareholders.
India's largest private lender ICICI Bank expects 25 per cent growth in credit card business this fiscal, as it sees co-branded cards as an opportunity to expand its presence in the segment.
Chanda Kochhar said a large section of youth, mainly underprivileged have little access to training that can increase their employability.
Private life insurers experienced reasonable growth in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24), and the October data is also encouraging. The individual weighted received premium (WRP) for private players grew by 19.8 per cent year-on-year (Y-o-Y) in October. However, Life Insurance Corporation (LIC) of India had slower growth, pulling the industry growth rate down to 13 per cent Y-o-Y.
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
The bank is offering a preferential rate on foreign currency conversion, giving special offers on housing loans and providing assistance for searching properties.
Through ICICIACTIVE, Dish TV viewers would get information about various types of ICICI Bank accounts and deposits. Dish subscribers can access information on different products, EMI on loans, eligibility criteria, documentation, time required for processing a request, ATM/branch details.
Subhiksha's founder and Managing Director R Subramanian, while refuting the allegations of ICICI Venture, said his company hasn't received any resignations from the nominees of ICICI even though the private equity firm claimed it had withdrawn its nominees.
Insurance companies reported nearly 23 per cent growth in first year premium in the first quarter of financial year 2024-25, when compared to the same period last year, with market leader LIC leading the charge with 28 per cent growth. According to the data released by the Life Insurance Council, the new business premium (NBP) increased by 22.91 per cent year-on-year (Y-o-Y) to ~89,726.7 crore in Q1FY25 from ~73,004.87 crore in Q1 FY24, reflecting a robust demand for insurance policies in the country.
Shares of ICICI Bank, Axis Bank and HDFC Bank on Friday tumbled as much as 4.5 per cent in morning trade following accusations that the lenders have indulged in money laundering.
The Supreme Court on Monday sought response of former ICICI Bank CEO-cum-MD Chanda Kochhar and her businessman husband Deepak Kochhar on a plea of the CBI challenging the interim bail granted to them by the Bombay high court in a loan fraud case. A bench of Justices Aniruddha Bose and Bela M Trivedi issued notice on the plea of the CBI and sought the response of the couple in three weeks.
ICICI Bank, the country's largest private lender, on Wednesday ruled out any interest rate hike in the near future and said it was rebalancing its portfolio.
The country's largest private sector lender, ICICI Bank, today said credit offtake will pick from July putting pressure on lending rates.
ICICI Bank on Friday tied up with Europe's financial powerhouse Fortis for offering asset and wealth management, estate planning and corporate services to Non-Resident Indians worldwide.
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.
'In phases when smaller stocks do well, an equal-weight index performs better than its market cap-weighted peer.'
HDFC Bank customers will be able to do 11 transactions on their Apple device using the `watchbanking' service.
Consensus continues to be cautious with analysts pointing towards tougher days ahead
Both the issues will be floated simultaneously either this month or the next month, subject to regulatory approvals, ICICI chief financial officer Vishakha Mulye said.
Market players attribute the rally in small and midcaps to flows from retail investors and domestic institutions.
Leading private sector bank ICICI Bank has opened an office in South African city of Johannesburg with an aim to capitalise on India's growing ties with African countries.
Core retail segments like motor and health continue to report strong growth of 19-20 per cent with competitive intensity still visible in the motor OD (owner driven) segment. Commercial lines reported muted growth. Group health remains a key driver. Among the listed companies, ICICI Lombard continues to trail in the motor section while Star Health has lost its Y-o-Y retail market share although its better on a sequential basis.
Srei Infra Finance group chief financial officer Sanjeev K Sancheti described the asset as a good buy as it is a fully secured debt.
Foreseeing Indian economy back on a high-growth trajectory in the coming months, ICICI Bank is looking at expanding its fund-generation profile and revenue streams to capitalise on the forthcoming opportunities. Since 2007, as the global and Indian economic environment has changed rapidly, the bank has focused on a conscious strategy of capital conservation, risk containment and efficiency improvement.
ICICI Securities will be the first subsidiary to be listed, followed by two insurance subsidiaries and the home finance business, he added.
Shah Rukh Khan's image and popularity with the Non-Resident Indian segment will further reinforce ICICI Bank's global identity, the bank said in a statement.\n
Imagine transforming a modest Rs 10,000 monthly investment into a steady Rs 1 lakh monthly income in your retirement years. This is the power of compounding -- a strategy that rewards you for starting early and staying consistent with your investments, says Ramalingam Kalirajan.
Younger people, who usually have a longer investment horizon which allows them to handle the interim volatility, may go for them.
General insurer ICICI Lombard has structured the first ever weather insurance cover for a maximum sum insured of Rs 1.5 crore (Rs 15 million) for Gujarat Heavy Chemicals in the event of loss of salt production due to unseasonal rainfall at its Nagapa
