ICICI Bank On Exposure To Videocon Group

ICICI Bank On Exposure To Videocon Group

✅ In 2012 a consortium sanctioned Rs 40,000 crore to Videocon group.

✅ ICICI Bank’s current exposure to Videocon group is part of this arrangement.

✅ ICICI Bank was not the lead bank for this consortium.

✅ It only sanctioned approximately Rs. 3,250 crore based on Credit Committee approval.

✅ Chanda Kochhar was not the Chairperson of this Committee.

✅ Terms and conditions offered for these loans similar to those offered by other banks in consortium.

✅ All banks including ICICI Bank disbursed the Rupee Term Loan into the common escrow pool account.

✅ ICICI Bank’s share of the banking sector’s exposure to Videocon group was less than 10 percent.

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