The homes and offices of former ICICI Bank chief executive Chanda Kochhar and the managing director of Videocon Venugopal Dhoot were searched on Friday by the Enforcement Directorate regarding a loan case. The Central Bureau of Investigation (CBI) had earlier issued a look-out circular against Ms Kochhar. Look-out circulars are[Read More…]
Tag: ICICI Bank
Chanda Kochhar quits as ICICI Bank CEO; inquiry to continue
Mumbai: ICICI Bank’s Chanda Kochhar, who is facing allegations of conflict of interest over a loan to Videocon Group that had in turn lent to a company part-owned by her husband, has quit as the bank’s Chief Executive Officer and Managing Director. The inquiry against her will continue. The bank[Read More…]
Chanda Kochhar quits ICICI Bank, Sandeep Bakhshi named new CEO
Mumbai: ICICI Bank said on Thursday that its CEO, Chanda Kochhar, has quit the company. “The Board of Directors of ICICI Bank Limited, accepted the request of Ms Chanda Kochhar to seek early retirement from the Bank at the earliest,” the bank said in a regulatory filing on Thursday. –IANS
CBI probing another Rs 5,280 crore loan taken by Choksi and his companies
New Delhi: The CBI is probing another loan of Rs 5,280 crore taken by diamond trader Mehul Choksi and his companies from a consortium of 31 banks led by ICICI Bank, informed sources said. The probe is part of the existing FIR filed against Choksi and his Gitanjali Group of companies,[Read More…]
Who let Nirav Modi flee India, asks Congress
New Delhi: The Congress on Thursday lashed out at Prime Minister Narendra Modi on the Rs 11,500 crore fraud in the PNB and asked him to come clean on the government’s “failure” to prevent the scam and identify those who helped the alleged kingpin, billionaire jeweller Nirav Modi, to flee the[Read More…]
Mobile transactions to overtake net banking: ICICI Bank
Lending major ICICI Bank on Friday said that it foresees mobile banking to overtake internet banking. According to the lending major’s Group Executive and Chief Technology and Digital Officer B. Madhivanan, around half of the digital transactions of savings account are taking place on mobile banking. “I believe that in[Read More…]
RBI adds HDFC in its list of banks ‘too big to fail’
The Reserve Bank of India included HDFC in the list of banks deemed “too big to fail”. The other banks in this list are State Bank of India and ICICI Bank. Banks with assets that surpass 2% of the annual gross domestic product are categorised as this. “In addition to[Read More…]
Congress accused BJP of using CBI to control media
Congress accused the Bharatiya Janata Party (BJP) Government of using the Central Bureau of Investigation (CBI) to control the media on Tuesday. CBI searched offices and residences of NDTV co-founder Prannoy Roy over allegations of triggering loss to a private bank. “I think this CBI move is an overdrive by[Read More…]
Investors make beeline for Punjab; state may attract upto Rs 1 lakh cr this fiscal
Punjab CM Amarinder Singh’s outreach to meet investors and business leaders in Mumbai seems to have bode well with India Inc. Sources close to the Punjab CM told Newsd that every top corporate honcho who met Capt Singh evinced interest in the impending growth story of the state. “Of them,[Read More…]
MDR rates on debit card payments slashed by RBI
The Reserve Bank of India on Friday decided to slash Merchant Discount Rate (MDR) charges on payments made through debit cards. For transactions of up to Rs 1,000, MDR will be capped at 0.25% of the transaction value. For transactions above Rs 1000, and up to Rs 2000, MDR will[Read More…]
9 Indian companies in list of least empathetic in world: Global survey
The latest 2016 Empathy Global Index has nine Indian companies at the bottom of the pile holding positions from 140 to 150. It is no surprise that Silicon Valley giants Facebook and Alphabet — the parent company of Google — top the list as the most empathetic, followed by many[Read More…]