Gold Silver Reports (GSR) – RBI Widens ICICI Bank Probe after Whistleblower Complaints — India’s banking regulator initiated a second probe into the affairs of ICICI Bank Ltd for allegedly delaying provisioning for stressed loans and so-called loan evergreening, among other wrongdoings, within days of receiving a whistleblower’s complaints on 20 March and 22 March, a fact that the bank was informed of only in early May.
Chanda Kochhar
Chanda Kochhar Goes On Leave, ICICI Bank Names Sandeep Bakhshi As COO
Gold Silver Reports (GSR) – The private lender named Sandeep Bakhshi as its chief operating officer for five years, according to a bank statement filed with the stock exchanges after a day-long board meeting. Bakhshi, currently COO designate, will take over as COO on June 19 or on receiving regulatory and other approvals, whichever is later.
Finally, Chanda Kochhar Did What She Should Have Done Earlier
Gold Silver Reports (GSR) – Finally, Chanda Kochhar Did What She Should Have Done Earlier — On 1 June, reacting to a Mint report that the independent directors of ICICI Bank Ltd asked managing director and chief executive officer (CEO) Chanda Kochhar to go on leave till a probe into her conduct by an independent agency is complete, the bank’s stock rose nearly 5%. The probe was announced following a whistleblower’s complaint on her alleged misconduct. After the bank denied the report and said she was on her planned annual leave, shares surrendered most of the gains.
ICICI Bank Block Deal Alert, April 9, 2018
ICICI Bank Block Deal Alert ⭐ ICICI Bank has 3 crore shares or 0.5 percent equity change hands in two blocks on NSE and BSE. Stock up 0.04 percent at Rs 280.75. ⭐ Bank of Baroda has 12.1 lakh shares change hands …
ICICI Board Is Said to Be Divided Over CEO Kochhar’s Future
Gold Silver Reports – ICICI Board Is Said to Be Divided Over CEO Kochhar’s Future — The board of India’s ICICI Bank Ltd., which less than two weeks earlier expressed full faith in Chief Executive Officer Chanda Kochhar, is divided over whether to ask her to step down as federal authorities investigate allegations of impropriety over loans made to Videocon group, people with knowledge of the matter said.
ICICI Bank Falls As Board Said To Be Divided Over CEO Kochhar’s Future
ICICI Bank Falls As Board Said To Be Divided Over CEO Kochhar’s Future
Shares of the country’s second-largest private sector lender fell as much as 2 percent to Rs 274.70 as its board is divided over whether to ask her to step down as federal authorities investigate allegations of impropriety over loans made to Videocon group.
ICICI Bank Falls Most In Over 2 Months As SEBI Begins Enquiry In Loan To Videocon
ICICI Bank Falls Most In Over 2 Months As SEBI Begins Enquiry In Loan To Videocon — Shares of the country’s leading private-sector lender fell as much as 4.6 percent, the most in over two months, to Rs 265.55, also its lowest level since Oct. 2017.
Chanda Kochhar Was On Committee That Approved Loan To Videocon Group, Says MK Sharma
Gold Silver Reports (GSR) – Chanda Kochhar Was On Committee That Approved Loan To Videocon Group, Says MK Sharma — MK Sharma said that CEO Chanda Kochhar was not the chairperson of the committee that sanctioned the loan to Videocon Group. He added that the bank did not see any conflict of interest and that Kochhar has been making all disclosures in accordance with regulations.
Regarding Additional Disclosures By Chanda Kochhar
Gold Silver Reports (GSR) – Regarding Additional Disclosures By Chanda Kochhar — MK Sharma said that CEO Chanda Kochhar was not the chairperson of the committee that sanctioned the loan to Videocon Group. He added that the bank did not see any conflict of interest and that Kochhar has been making all disclosures in accordance with regulations.