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ICICI Bank increases fixed deposit rates by 10-25 bps
Posted on 15th November 2018
Private sector lender ICICI Bank has increased its fixed deposit rates by 10-25 basis points (bps) for various maturities. For the 1 year-up to 389 day period, the new rate will be 6.9%, up 15 bps, while for 390 days-to-two years, the rate is 7.1%. For over 2 years up to 3 years, the bank will offer 7.5% to the depositor. Deposit rates have also been raised by 25 bps for some shorter tenures.

ICICI Bank offering 45-day interest free credit upto Rs 20,000 to select customers
Posted on 1st November 2018
New Delhi: ICICI Bank today launched a new short-term digital credit facility for its customers under which they can get instant pre-approved loans of upto Rs 20,000 for online shopping, paying bills and also for settling bills at offline stores using UPI platform. Currently an invite-only feature, ICICI Bank’s new offering is aimed at the young and millennial customers who want everything digitally and instantaneously, including credit.

ICICI Bank share price zooms 10% after Q2 result shows improved asset quality; is it the right time to buy?
Posted on 29th October 2018
ICICI Bank shares zoomed nearly 10% on Monday after the bank’s quarterly results showed an improvement in asset quality for the quarter ended September 2018. ICICI Bank share price surged by 9.8% to an intra-day high of Rs 346.55 per share on the NSE on Monday, the highest level in over a month. ICICI Bank was the top gainer on both the Sensex and Nifty indices in Monday’s trade.

Bad news for Chanda Kochhar: Law firm pulls back clean chit, says ICICI Bank
Posted on 25th October 2018
ICICI Bank on Tuesday said a leading law firm has taken down a 2016 report exonerating the bank’s former head Chanda Kochhar from charges of nepotism and conflict of interest with regard to loans given to the Videocon Group. The law firm in question is understood to be Cyril Amarchand Mangaldas.

ICICI Bank gets RBI clearance to appoint Sandeep Bakhshi as its MD and CEO
Posted on 16th October 2018
Private sector lender ICICI Bank Tuesday said the RBI has approved Sandeep Bakshi's appointment as Managing Director and CEO of the bank for three years.

After resignation of Chanda Kochhar, who was facing inquiry, earlier this month, the bank's board had elevated Chief Operating Officer (COO) Bakshi as the new managing director and CEO for five years until October 3, 2023, subject to regulatory and other approvals.

Chanda Kochhar seeks more time to appear before Sebi for a personal hearing
Posted on 15th October 2018
ICICI Bank’s former managing director and chief executive officer (MD and CEO), Chanda Kochhar, has sought more time to appear before the Securities and Exchange Board of India (Sebi) for a personal hearing, said a source in the know.

Kochhar has been issued a showcause notice by the regulator for alleged violation of the code of conduct.

ICICI Bank: Chanda Kochhar finally goes, Sandeep Bakhshi to head bank
Posted on 5th October 2018
Chanda Kochhar, who helmed the country’s second-largest private lender ICICI Bank for nine years since 2009, on Thursday stepped down as managing director (MD) and chief executive officer (CEO) amid allegations of irregularities in loans given to the Videocon Group. Shares of ICICI Bank ended 4.07% higher than their previous close on the BSE at Rs 315.95.

ICICI Bank accepts Chanda Kochhar's request for an early retirement
Posted on 4th October 2018
ICICI Bank on Thursday informed stock exchanges that it had accepted its managing director and chief executive officer Chanda Kochhar’s request for a retirement from the bank at the earliest.

Kochhar will also quit the boards of directors of the bank and its various subsidiaries.

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,

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