RBI Imposes Hefty Fines On PNB & ICICI Bank For 'Irregularities'
The Reserve Bank of India (RBI) imposed a fine of Rs 1.8 crore on the Punjab National Bank and Rs 30 lakh on ICICI Bank. The amount has been penalised for deficiencies in regulatory compliances under the Banking Regulation Act, 1949. In an official statement, RBI said, the PNB held more than 30% shares in borrowers companies, whereas in the case of ICICI Bank, they violated compliance rule.
Tags: RBI, penalty, PNB, ICICI Bank, Indian Banks
Ex-ICICI Bank CEO Chanda Kocchar Granted Bail In Money Laundering Case
In the ICICI Bank-Videocon money laundering case, former ICICI Bank CEO Chanda Kochhar has been granted bail on a bond of Rs 5 lakh. However, she cannot leave the country without permission. Besides, her husband Deepak Kochhar, a co-accused in the case, has also been granted bail. Earlier on January 30, a special PMLA (Prevention of Money Laundering) court had summoned the Kochhars, Videocon Group promoter Venugopal Dhoot and other accused in… read-more
Tags: Chanda Kochhar, ICICI Bank, Videocon Case, Money laundering case, Bail
Courtesy: The Indian Express
ICICI Banks Records 19% Surge In Q-3 Net Profit; Asset Value Rise 3%
A surge of 19% in net profit was recorded by ICICI Bank for the third quarter ended on December 31, 2020. The net profit soared at Rs 4,940 crore, where it was Rs 4,146 crore a year ago in 2019. Moreover, the private sector lender witnessed a 3% surge in its asset at Rs 24,416 crore from Rs 23,638 crore last year. Notably, the capital adequacy of the company stood at 18.04%.
Tags: ICICI Bank, QUARTER PROFITS, business
Courtesy: Live Mint
Retd. IAS Atanu Chakraborty To Be The Next Chairman Of HDFC Bank
Retired IAS, Atanu Chakraborty is likely to be the next chairman of the HDFC Bank. However, the HDFC Bank has submitted all the documents of Chakraborty and will replace Shyamala Gopinath whose term ends on January 1. Former MD of Gujarat Petronet Ltd, Chakraborty has over 22 years of experience in central or state departments including PSU’s. After appointing him, HDFC will become the second private bank after ICICI to have ex-bureaucrat as… read-more
Tags: HDFC BANK, Reserve bank of India, business, Atanu Chakraborty, ICICI Bank, Shyamala Gopinath
Courtesy: Times Now
Supreme Court Rejects Former ICICI Bank CEO Chanda Kochhar's Plea
The Supreme Court has rejected ICICI Bank's former CEO Chanda Kochhar's plea against her dismissal from the chief executive and MD post. Kochhar was fired in 2019, months after she stepped down from posts. Rejecting her plea, the court held, "this falls within the realm of private contract between bank and employer." Earlier, in 2019, ED booked Chanda, her husband Deepak and Videocon’s Venugopal Dhoot for irregularities in approving Rs 1,875… read-more
Tags: Chanda Kochhar, ICICI Bank, Supreme Court, MONEY LAUNDERING, Videocon Case
ICICI Bank To Charge Customers For Cash Deposits At ATM
ICICI Bank has announced that it will charge Rs 50 from its customers for cash deposits through ATMs from November 1. The convenience fee will apply when the deposits are made during non-working hours or bank holidays and, also, if the amount exceeds Rs 10,000 per month. However, the charges will not be applicable to Jan Dhan accounts, basic savings account and accounts of students, senior citizens and handicapped.
Tags: ATM, Cash Deposit, ICICI Bank, Convenience Fee
Courtesy: Live Mint