ICICI Bank has quashed rumours of favouritism, nepotism and quid pro quo. The bank clarified that while Chanda Kochhar was on the credit committee, she was not the chairperson. Videocon Chairman Venugopal Dhoot said there was no impropriety in the deal.
"Our business is growing between 18 to 20 per cent and we are also adding branches... it's expected that we would hire between five and six thousand people in our workforce," the bank's managing director and chief executive Chanda Kochhar told reporters.
The head of India's largest private sector bank, who is in Davos in this Swiss Alpine resort town for the World Economic Forum Annual Meeting, said that the central bank has already in its last policy statement, indicated monetary policy easing in the fourth quarter of the current fiscal.
Some are heading the top banks in India, while others are calling the shots as company's CFO.
ICICI Bank chief Chanda Kochhar has said that the Indian economy would continue to see robust upward momentum in the years to come and the lender was well prepared to leverage from the potential growth opportunities.
The committee is considering 1,300 names for this year's awards from which it is likely to select 120.
The Prime Minister's Council on Trade and Industry comprising top industrialists and bankers met on Wednesday and reviewed the economic situation, particularly in the wake of the European financial crisis.
The visiting US treasury secretary Timothy F Geithner today said Washington will closely work with New Delhi to promote a more balanced and greater economic cooperation between the two nations.
Chanda Kochhar said a large section of youth, mainly underprivileged have little access to training that can increase their employability.
The managing director and CEO of India's second largest bank is already walking the talk by organising roadshows all over the world to showcase upcoming highway projects.
The FIR also said chairman of New Development Bank K V Kamath, Goldman Sachs India chairman Sonjoy Chatterjee, Standard Chartered Bank CEO Zarin Daruwala, Tata Capital head Rajiv Sabharwal and Tata Capital senior advisor Homi Khusrokhan need to be investigated.
Located in the banking hub of Singapore's central business district, the branch office is the start of ICICI's retail operations in the country under a 25-branch qualified Full Banking licence given by the Monetary Authority of Singapore in April, Kochhar said.
The country's largest private sector lender ICICI Bank on Tuesday said that it expects the Reserve Bank to continue with calibrated approach to check inflation at its upcoming September 16 monetary policy review.
From a technocrat turned fraudster Ramalinga Raju's confession to the snub-nosed Nano, 2009 offered some forgettable and many memorable moments in business.
Chanda Kochhar on fate and hard work - the cornerstones of her career in the banking world.
Chanda Kochhar, managing director and chief executive officer of ICICI Bank Ltd, the second biggest lender, expects loans to grow 16 per cent in the year to March and sees lending rates rising during the year.
The government on Wednesday announced the appointment of veteran banker K V Kamath as chairperson of the newly set up Rs 20,000 crore development finance institution NaBFID to catalyse investment in the funds-starved infrastructure sector. Parliament had in March cleared the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 to support the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.
Foreign direct investment (FDI) norms that classify ICICI Bank as foreign-owned were unlikely to impede the group's expansion plans, said ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar.
Sonjoy Chatterjee, executive director (ED) of ICICI Bank, has put in his papers and will soon join US-based investment bank Goldman Sachs in India, according to a person familiar with the development.
The executive suites of most major companies still remain largely boys' clubs, but things are improving.
Industrialists Anand Mahindra and Ratan Tata will co-host a power lunch for CEOs with the visiting US Treasury Secretary Timothy Geithner on April 7.
While Chanda Kochhar got a pay of Rs 2.66 crore, Arundhati Bhattacharya took home only Rs 28.96 lakh
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.
The focus on rural areas ties in with the bank's strategy to use its branch network to source most of its loans, rather than direct sales agents. Its direct agriculture advances amounted to Rs 17,329 crore at the end of March 2010.
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.
"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.
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.
"I am complimenting the way in which one is managing finances, given the constraint that we are in", said Kochhar, ICICI Bank CEO and managing director.
Asked about top Swiss bank UBS AG, reeling under criticism for sheltering American tax evaders, agreeing to US government's demand for disclosure, Kochhar generally hedged queries saying Indian banks were not in that kind of business. Black money had become a major issue in the run up to the Lok Sabha polls in April-May, with BJP leader L K Advani claiming that $500 billion of Indian money was stashed in banks abroad.
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 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.
Three Indians-- Congress president Sonia Gandhi, ICICI Bank head Chanda Kochhar and PepsiCo chief executive Indra Nooyi--have been named among Asia's eight top power women by American broadcaster CNN.
The programme that began last year has seen the list of CEOs -- who will be put under the hammer -- grow.
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.
The RBI, in its third quarter monetary policy review, raised by 75 basis points (to 5.75 per cent) the mandatory deposits banks need to park with the apex bank to tame inflation. The move is likely to suck Rs 36,000 crore (Rs 360 billion) out from the system.
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.
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.
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