ICICI Bank names Girish Chandra Chaturvedi as non-executive Chairman
Business | June 29, 2018 17:18 ISTICICI Bank on June 18 announced the appointment of Sandeep Bakhshi as Whole time Director and Chief Operating Officer (COO).
ICICI Bank on June 18 announced the appointment of Sandeep Bakhshi as Whole time Director and Chief Operating Officer (COO).
ICICI Bank on Monday announced the appointment of Sandeep Bakhshi as Wholetime Director and Chief Operating Officer (COO) designate as its MD and CEO Chanda Kochhar decided "to go on leave till the completion of the inquiry" in relation to the allega
The cases under scanner include the bank's Rs 3,250 crore loan to Videocon Group in 2012 and the involvement of Kochhar family members in restructuring of the loan.
Among others, IBA Deputy Chairman and SBI chief Rajnish Kumar and PNB MD Sunil Mehta briefed the panel on various aspects of non-performing assets (NPAs) and banking frauds.
The lender's clarification came after a media report claimed that Kochhar has been asked to go on a leave.
Without detailing the allegations, the bank in a regulatory filing said the enquiry will be headed by an independent and credible person.
According to the ICICI Bank, the SEBI has sought response on alleged non-compliance of the “erstwhile ‘Listing Agreement’ and the ‘Listing Obligations and Disclosure Requirements) Regulations, 2015’”.
The results come against the backdrop of a series of allegations of impropriety in ICICI Bank's extending loans to some companies and enjoying reciprocal benefits by the family members of the lender's CEO Chanda Kochhar.
According to CBI officials, Pugalia was previously an employee of Videocon Group and then used to offer consultancy services to it.
Kochhar was stopped from leaving the country as the CBI had issued a Lookout Circular (LoC) against him, officials said.
CBI sources said that Chanda Kochhar, against whom conflict of interest questions have been raised, has not been named in the preliminary inquiry as of now.
The RBI said this action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
ICICI Bank board also reviewed the bank's internal processes for credit approval and found them robust, the private sector lender said in a statement.
The Reserve Bank of India (RBI) had introduced the MCLR system with effect from April 1, 2016 on account of limitations in the base rate regime.
ICICI Bank has launched a cashback of 1 per cent annually on home loans. Defaulters can't avail this offer.
As per the new rates, salaried women borrowers will get home loans at 8.35 per cent and others at 8.40 per cent for loans up to Rs 30 lakh
In a list of most number of frauds witnessed during April-December period of 2016, the ICICI Bank topped the list of such banks and state-owned SBI taking the second spot, RBI data said. During the
Banks including HDFC Bank, ICICI Bank and Axis Bank on Wednesday began charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month. The charges
US-based digital security organization FireEye has asserted that it has found malicious phishing sites created by cyber criminals that farce 26 Indian banks to take individual data from clients. FireEye identified a new domain (csecurepay[.]com)
Following the announcement by SBI slashing interest rates on home loans by 15 basis points to 9.15 per cent, a six year-low, private lenders including ICICI Bank and HDFC are also set to reduce the home loan rates by up to 0.20 per cent.
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