The finance ministry has voiced the opinion that there was no need for the RBI to increase the key rates that could impact the banks lending rates.
Deccan Chargers, one of the Indian Premier League's franchises, has filed multiple applications before government authorities seeking exclusive trademark rights for its name.
Independent directors were supposed to safeguard the interest of all stakeholders.
Blind spots of the company were two-fold - managing cash flow and investments to upgrade technology and continue research and development.
"At best, the two can be called as Indian-controlled banks," DIPP secretary R P Singh said when asked about the government's stand in the wake of the two seeking clarifications on the matter.
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.
The country's largest private sector lender, ICICI Bank, today said credit offtake will pick from July putting pressure on lending rates.
For one, women comprise almost half of India's population, yet less than 5 per cent women are corporate directors and less than half of that are independent directors.
The country's largest private lender, ICICI Bank, on Monday said it expects lending rates to go up after September as credit offtake is likely to pick up in the second half of the current fiscal.
UIDAI has asked police to investigate, it was not fully convinced about nature of the incident
Generally, the central bank grants its approval by mid-March, or latest by March 31, but most banks have not received RBI approval on bonus packages this year.
ICICI Bank, the country's largest private sector lender, which has identified infrastructure as one of its growth drivers, sees projects worth Rs 150,000 crore for achieving financial closure in the next three to four months.
"When you have two relatively large economies growing at 7 and 10 per cent, respectively, India and China, they are contributing quite a lot to global growth," IMF deputy director, Asia and Pacific department, Kalpana Kochhar, said during a teleconference in Washington.
Meanwhile, ICICI Bank chairman KV Kamath, however, said he expects interest rates to go up only towards of the end of this year.
Describing the third quarterly performance of the bank as 'very positive', ICICI Bank managing director and CEO Chanda Kochhar said on Monday the bank has emerged stronger on all parameters recording an operating profit of 22 per cent minus treasury income.
India's economic growth slipped to 6.7 per cent in '09, mainly on account of the impact of the global financial meltdown that started in the US in 2008.
We plan to hire around 5,000-7,000 people this fiscal. We have also declared bonus and increments for our employees," ICICI Bank's managing director and chief executive, Chanda Kochhar, told reporters after inaugurating the 2000th branch of ICICI Bank in Mumbai on Monday.
ICICI Bank has asked the government not to take into account overseas securities like ADR and GDR when deciding on whether a bank is Indian or foreign.
The strong commitment to managing the government borrowing programme in a manner that is non-disruptive to markets and does not crowd out private sector investment should give confidence to market participants, ICICI bank's managing director & CEO, said.
AirAsia will expand its network across ASEAN.
Chanda Kochhar, CEO and managing director of ICICI Bank, spells out ICICI's work culture and employee philosophy.
The bank would take a call on the subject once the laws are amended to hike foreign direct investment in insurance sector from 26 per cent to 49 per cent, ICICI Bank CEO and managing director Chanda Kochhar told PTI. This would help create value for the stake holders, she clarified while pointing out that ICICI Bank's share price had increased three times in the last six months to about Rs 750 a share.
The country's largest private bank, ICICI Bank, on Friday said it is focussing on the home loan segment as the real estate segment is witnessing a comeback after the economic slowdown.
United States Secretary of State Hillary Clinton on Saturday had a breakfast meeting with top honchos of India Inc at the iconic, sea-facing Taj Hotel in Mumbai. Amongst those from India Inc who were present at the meeting included Ratan Tata, chairman of Tata Group and Reliance Industries' Mukesh Ambani. Others present were the chiefs of India's two largest banks, O P Bhatt of State Bank and Chanda Kochhar of ICICI Bank, Swati Piramal and Sudha Murthy.
India Inc on Monday welcomed the focus on reviving economic growth to nine per cent as also the indications for bold tax reforms, but expressed regret that the Minimum Alternate Tax was raised and Security Transaction Tax was let to continue.
The bank saw loans worth Rs 7,000 crore (Rs 70 billion) slipping into NPAs during the March quarter, taking the gross NPA ratio to 5.82 per cent.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
"The corporate pipeline is still strong, which will lead growth. We expect to maintain a 15-16 per cent year-on-year credit growth," ICICI Bank's Joint Managing Director Chanda Kochhar told reporters in Mumbai on Tuesday. On ICICI Bank's microfinance portfolio, she said that the bank has covered more than 3-million customers under this portfolio.
Bankers on Tuesday said interest rates have bottomed out in the second quarter and rates may start rising in the coming months in line with a pick-up in credit off take, expected on the back of a revival in the economy.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
The Central Bureau of Investigation has given a clean chit to former Delhi Police officer Amod Kanth, accused of illegally allowing retention of 37 extra seats in Uphaar theatre, where a fire claimed 59 lives 12 years ago.
SBI Chairperson Arundhati Bhattacharya said any rate cut by the bank would depend on a lot many factors.
Banking stocks led by SBI, ICICI Bank, Bank of Baroda, PNB, Kotak Bank, HDFC Bank, Axis Bank, Federal Bank and Yes Bank fell as much as 2.77 per cent.
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.
Within hours of rate cut announced by RBI, United Bank has reduced the benchmark lending rate by 0.25 per cent, while other banks including market leader SBI have indicated that they would follow suit.
Home, consumer, corporate and personal loans are likely to become cheaper with the Reserve Bank cutting its key short-term repo rate by 1 per cent to 8 per cent, the first since 2004, bankers said. After slashing the cash reserve ratio by 2.5 per cent from 9 to 6.5 per cent with effect from October 11, the Reserve Bank cut the repo rate on Monday, which is the rate at which banks borrow from the apex bank.
It will help customers raise the eligible amount by up to 20 per cent and increase the tenure by up to seven years.
Image Alert: These models will make your screen MELT.
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.
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