The total market capitalisation of companies listed on the Bombay Stock Exchange (BSE) hit an over 32-month low on Thursday as the benchmark indices crashed over 7 per cent after the World Health Organization (WHO) declared the worldwide outbreak of the new coronavirus as pandemic.
Investors had lost a whopping nearly Rs 11 trillion in the stock markets till 11:10 am today. The total investor wealth, measured in terms of the cumulative market value of all listed stocks on the BSE, fell by Rs 10.97 trillion to Rs 126.15 trillion, exchange data shows.
NEFT Timings: Customers of SBI, HDFC Bank, Axis Bank, Punjab National Bank, ICICI Bank or any other commercial lender can do National Electronic Funds Transfer (NEFT) transactions 24×7 from today. The facility will now be available on any day of the week or month, including holidays. The Reserve Bank of India (RBI) has allowed this facility to be available at all times throughout the year.
For smooth settlement of NEFT transactions, the RBI has decided to provide additional collateralised intra-day liquidity facility.
Chanda Kochhar, ICICI Bank's former managing director and chief executive officer, has moved the Bombay High Court, challenging the decision of the bank's board earlier this year to terminate her employment and claw back the bonuses and stock options she received between April 2009 and March 2018.
A division Bench of the high court comprising Justice Ranjit More and Justice Makarand Karnik will hear Kochhar's plea on December 2. With this, the stage is set for an intense legal battle between the bank and its former CEO.
Shares of HDFC Asset Management Company (AMC), ICICI Prudential Life Insurance (ICICI Pru) and Polycab India hit their respective all-time highs on Thursday after their inclusion in the MSCI Global Standard Index with effect from November 26, 2019.
Polycab India surged 7 per cent to Rs 915, surpassing its previous high recorded on October 30 in the intra-day trade. In the past one month, the stock has rallied 32 per cent against an eight per cent gain in the S&P BSE Sensex.
Private sector lender ICICI Bank today launched of FD Health, a fixed deposit (FD) offering the dual-benefit of investment growth via FD and protection through a critical illness coverage. For investors in FD Health, ICICI Bank will offer the insurance cover free of cost for the first year and thereafter, they can renew it.
MUMBAI : ICICI Bank on Monday said it has opened 320 bank branches so far this fiscal and was looking to add another 130 branches over the next 6 months, taking the total branch network to over 5,320 by the end of March 2020.
“Our strategy is to set up branches wherever business activity emerges.
ICICI Bank’s (ICICIBC’s) annual report reaffirms our view that the bank is progressing well in its endeavour to strengthen balance sheet with strong focus on retail franchise. While its retail portfolio has been leading overall loan growth, GNPA has remained stable at 1.7% for many years; also, retail fees contribute over 70% to total fees. Concentration of the top-20 advances/exposures improved by 206bp/208bp to 12.1%/ 11.9% during the year. On the liability side, concentration of the top-20 depositors improved by ~50bp to 5.7%.
MUMBAI: Employees at ICICI Bank Ltd are in the midst of a cultural shift as the bank adopts open office structures, abolishes grades and imparts skills to employees to adapt to sales jobs that would need human intervention amid automation and digitization.
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