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NCLT seeks JP Associates reply to notice on ICICI Bank plea
Posted on 18th September 2018
The Allahabad bench of the National Company Law Tribunal on Monday asked Jaiprakash Associates to reply by Tuesday regarding the notice it issued to the company on September 10 on the petition of ICICI Bank initiating insolvency proceedings against the company.

The two-member bench also asked ICICI Bank to file any rejoinder to JP Associates reply by September 20 and has scheduled the matter for hearing on September 26.

ICICI Bank warns of too much focus on tech-driven lending
Posted on 12th September 2018
Stating that people can “game” credit bureau scores and doubt the authenticity of tax returns, a top ICICI Bank official has cautioned against excessive use of computer algorithms in lending and has called for applying “human judgment”.

The warning by one of the largest private sector lenders comes even as banks, including ICICI Bank itself,

Insolvency case: ICICI Bank moves NCLT against JP Associates
Posted on 11th September 2018
ICICI Bank on Monday filed an insolvency case against Jaiprakash Associates before the Allahabad bench of the National Company Law Tribunal (NCLT), which issued notices to the latter seeking a reply by September 17 when the matter will be heard next. The company owes around Rs 1,260 crore to ICICI Bank. ICICI Bank had filed an insolvency case in the NCLT after Reserve Bank of India last month rejected its plea to make an exception in the case of JP Associates as banks had finalised a restructuring plan and also partly implemented it.

Sebi to summon Kochhars
Posted on 10th September 2018
New Delhi: Capital market regulator Sebi may soon summon ICICI Bank's on-leave CEO Chanda Kochhar and her husband Deepak Kochhar in a probe into alleged regulatory lapses with regard to the latter's business dealings, officials said on Sunday.

Besides, some other top officials of the bank, as also from Videocon, which allegedly benefitted because of its association with Kochhar's husband,

ICICI Bank hikes one-year MCLR by 15 bps; rate higher than SBI’s
Posted on 4th September 2018
The ICICI Bank raised its marginal cost of funds-based lending rates (MCLRs) by 15-25 basis points (bps) across tenures, following a similar move by larger rival State Bank of India (SBI). The one-month MCLR at ICICI Bank now stands at 8.55%, 15 bps higher than earlier, and 10 bps more than the corresponding rate at SBI.

ICICI Bank votes for Kochhar's reappointment to ICICI Securities board
Posted on 31st August 2018
The Kishinchand Chellaram College, usually bustling with students, resembled a heavily-guarded fort ahead of the annual general meeting (AGM) of ICICI Securities on Thursday. Here, shareholders were to decide whether Chanda Kochhar should continue to serve on the board of the broking and investment banking firm.

ICICI Bank shares rise on optimism over bad loan cycle ending soon
Posted on 10th August 2018
Hitting a six-month high, the ICICI Bank stock gained 4.64% and ended the session at Rs 332.95 on Thursday on the back of optimism that the bad loan cycle may be nearing an end. ICICI Bank’s stock has risen 28.40% from its July low. In a note to investors, Credit Suisse said ICICI Bank has been reflecting low new NPL formation over the past few quarters.

Local court summons ICICI MD Chanda Kochhar after branch manager fails to turn up
Posted on 8th August 2018
A court today issued summons to ICICI bank’s Managing Director Chanda Kochhar and others in connection with case involving a joint account, after the manager of the branch concerned did not appear before it. Chief Judicial Magistrate Anand Prakash Singh fixed August 16 for their appearance.

ICICI Bank chairman assures of priority to governance practices
Posted on 3rd August 2018
New Delhi: Newly appointed ICICI Bank chairman Girish Chandra Chaturvedi has assured shareholders that he would give top priority to upholding the best governance practices as the bank facing controversies involving CEO Chanda Kochhar.

Chaturvedi hopes uncertainties would be resolved at the earliest.

ICICI Bank makes disclosures on Chanda Kochhar in US SEC filing
Posted on 2nd August 2018
Mumbai/Delhi: ICICI Bank Ltd is yet to reply to a notice by the Securities and Exchange Board of India (Sebi) seeking clarifications on the disclosure of price-sensitive information, the bank said in a filing made to the US Securities and Exchange Commission (SEC) on Monday.

The markets regulator is investigating whether ICICI Bank and its chief executive officer, Chanda Kochhar

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