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ArcelorMittal venture executes first 'paperless bill discounting transaction'

ArcelorMittal Nippon Steel, a joint venture between ArcelorMittal and Japan's Nippon Steel, executed the transaction in partnership with ICICI Bank.
ArcelorMittal Nippon Steel is a joint venture between ArcelorMittal and Japan's Nippon Steel (Reuters)
ArcelorMittal Nippon Steel is a joint venture between ArcelorMittal and Japan's Nippon Steel (Reuters)
Published on Jun 27, 2021 03:24 PM IST
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By hindustantimes.com | Written by Karan Manral | Edited by Amit Chaturvedi, New Delhi

Dividend payouts of Nifty firms climb to 4-year high

  • A change in the taxation policy on dividends also played a major role in companies distributing higher dividends
Investors see bigger dividends as indicative of a firm’s strength.(File Photo)
Investors see bigger dividends as indicative of a firm’s strength.(File Photo)
Published on Jun 21, 2021 06:43 AM IST
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By Nasrin Sultana, Ashwin Ramarathinam, Mumbai

Retail borrowers make the most of recast plan

HDFC Bank Ltd, ICICI Bank Ltd and Axis Bank Ltd collectively implemented retail debt recasts of 6,603 crore and just 2,109 crore of corporate loans under the scheme.
HDFC Bank’s <span class='webrupee'>₹</span>5,456 crore retail loan recast tipped the scales. Axis Bank restructured <span class='webrupee'>₹</span>504 crore of retail loans and <span class='webrupee'>₹</span>341 crore of corporate loans.(File photo)
HDFC Bank’s 5,456 crore retail loan recast tipped the scales. Axis Bank restructured 504 crore of retail loans and 341 crore of corporate loans.(File photo)
Published on Apr 29, 2021 12:27 AM IST
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By Shayan Ghosh, Mumbai

IPO boom prompts ICICI to hire more investment bankers

ICICI Securities ranks first for equity offerings in India so far in 2021, according to the Bloomberg league table, a leap from 2020 when it finished 10th.
ICICI Bank Ltd plans to add five mid-to-senior level hires in each of the two units(Mint File Photo )
ICICI Bank Ltd plans to add five mid-to-senior level hires in each of the two units(Mint File Photo )
Published on Apr 20, 2021 07:59 AM IST
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Bloomberg |

Competition Commission dismisses complaint against ICICI Bank

  • In its order passed on Wednesday, the regulator said the allegations of abuse of dominance specifically relate to arbitrary increase in interest rate on home loan and increase in tenure of home loan by the bank on the basis of one-sided conditions in the loan agreement.
Existence of a large number of players in the home loan market shows that ICICI Bank cannot operate independently in the market(Hemant Mishra/ Mint file photo)
Existence of a large number of players in the home loan market shows that ICICI Bank cannot operate independently in the market(Hemant Mishra/ Mint file photo)
Published on Jan 28, 2021 04:28 PM IST
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PTI | , New Delhi

ICICI Bank sells 1.5% stake in life insurance arm for Rs 840 crore

Last week, the lender had informed exchanges about selling a little less than 4 per cent stake in its general insurance subsidiary for Rs 2,250 crore.
While announcing its results for 2019-20 on May 9, ICICI Bank had said it would look at further strengthening the balance sheet as opportunities arise.(Bloomberg)
While announcing its results for 2019-20 on May 9, ICICI Bank had said it would look at further strengthening the balance sheet as opportunities arise.(Bloomberg)
Updated on Jun 22, 2020 02:12 PM IST
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New Delhi, Delhi | By Press Trust of India | Posted by: Shivani Kumar

ICICI Securities’ shares shed early gains; close 5 % lower

The scrip, which zoomed 13.80 per cent to Rs 429 during the day on the BSE, later eroded its gains and closed at Rs 357.80, down 5.08 per cent.
ICICI Securities on Thursday reported a 28 per cent increase in profit after tax at Rs 156 crore for the March quarter on account of growth in revenue and changes in statutory tax rates.(HT Archives)
ICICI Securities on Thursday reported a 28 per cent increase in profit after tax at Rs 156 crore for the March quarter on account of growth in revenue and changes in statutory tax rates.(HT Archives)
Published on May 08, 2020 05:59 PM IST
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New Delhi | By Press Trust of India| Posted by: Harshit Sabarwal

CBI issues lookout notice against Chanda Kochhar, 2 others in ICICI loan case

The CBI had on January 24 named the the Kochhars and Dhoot as accused in an FIR in the the Rs 3,250 crore loan case.
The Central Bureau of Investigation (CBI) has issued a lookout notice against former ICICI Bank CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon Group promoter Venugopal Dhoot.(PTI Photo)
The Central Bureau of Investigation (CBI) has issued a lookout notice against former ICICI Bank CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon Group promoter Venugopal Dhoot.(PTI Photo)
Updated on Feb 22, 2019 01:02 PM IST
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Hindustan Times | By HT Correspondent

ICICI says Chanda Kochhar violated code of conduct, has to return bonuses

ICICI Bank, India’s third biggest lender, said it will treat Chanda Kochhar’s resignation as “termination for cause” and will stop payment of unpaid benefits, including bonus.
Chanda Kochhar resigned in October after being mired in allegations that she favoured Videocon Group(PTI/File Photo)
Chanda Kochhar resigned in October after being mired in allegations that she favoured Videocon Group(PTI/File Photo)
Updated on Jan 30, 2019 09:03 PM IST
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Reuters | By Agencies

‘Adventurism taking over professionalism’: Arun Jaitley targets CBI over ICICI probe

Arun Jaitley’s reference is to all the names mentioned in the FIR filed by CBI, albeit not as accused but as people worth investigating in the case.
Arun Jaitley advised investigators to follow the advice of Arjun in the Mahabharat and concentrate on the bulls eye.(Pradeep Gaur/ Mint)
Arun Jaitley advised investigators to follow the advice of Arjun in the Mahabharat and concentrate on the bulls eye.(Pradeep Gaur/ Mint)
Updated on Jan 25, 2019 11:27 PM IST
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Hindustan Times, New Delhi | By HT Correspondent

CBI FIR deconstructs how Chanda Kochhar allegedly defrauded ICICI

Breaking down its case against them, CBI details the modus operandi and charges them with offences punishable under Section 120B (conspiracy) and 420 (cheating) of IPC, section 7 (taking gratification) and 13(2) (criminal misconduct) read with 13(1)(d) (pecuniary advantage) of the Prevention of Corruption Act.
The gigantic fraud perpetrated by Kochhar in conjunction with her husband and Dhoot has been deconstructed by the CBI in its FIR.(PTI)
The gigantic fraud perpetrated by Kochhar in conjunction with her husband and Dhoot has been deconstructed by the CBI in its FIR.(PTI)
Updated on Jan 25, 2019 09:23 AM IST
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New Delhi | By Indo Asian News Service

Chanda Kochhar: The fall of a feisty woman who broke the glass ceiling

ICICI chief executive officer Chanda Kochhar has resigned from the bank’s top post, the company said in regulatory filings on Thursday.
ICICI bank's former CEO Chanda Kochhar listens to a speaker at a news conference in Mumbai, March 15, 2018.(REUTERS)
ICICI bank's former CEO Chanda Kochhar listens to a speaker at a news conference in Mumbai, March 15, 2018.(REUTERS)
Updated on Oct 04, 2018 08:18 PM IST
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Press Trust of India | By Press Trust of India

Home, auto loans to get costlier as SBI, ICICI hike lending rate by 0.2%

State Bank of India (SBI) has increased the lending rate by 20 basis points or 0.2% across all tenors up to three years.
The State Bank of India (SBI) office building is pictured in Kolkata.(REUTERS File Photo)
The State Bank of India (SBI) office building is pictured in Kolkata.(REUTERS File Photo)
Updated on Sep 01, 2018 11:44 PM IST
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Press Trust of India | By Press Trust of India

ICICI Bank names ex-bureaucrat Girish Chandra Chaturvedi as non-executive chairman

Chaturvedi will replace MK Sharma, the current chairman of ICICI Bank, after his term expires on June 30.
ICICI Bank is under the scanner of various regulatory agencies for alleged conflict of interest involving its CEO Chanda Kochhar and her family members in extending loans to some corporates, including the Videocon Group.(Reuters File Photo)
ICICI Bank is under the scanner of various regulatory agencies for alleged conflict of interest involving its CEO Chanda Kochhar and her family members in extending loans to some corporates, including the Videocon Group.(Reuters File Photo)
Updated on Jun 29, 2018 01:00 PM IST
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Hindustan Times, New Delhi | By HT Correspondent

ICICI Bank issues clarification on whistleblower complaint, denies charges of inflating profit

ICICI Bank issued a clarification to the stock exchanges on Friday, addressing charges in a whistleblower complaint received by the bank on March 31.
An ICICI Bank Ltd. branch stands in Ooty, Tamil Nadu.(Dhiraj Singh/Bloomberg)
An ICICI Bank Ltd. branch stands in Ooty, Tamil Nadu.(Dhiraj Singh/Bloomberg)
Updated on Jun 25, 2018 03:50 PM IST
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Hindustan Times, New Delhi | By HT Correspondent

ICICI shares soar, CEO Kochhar says bank getting grip on bad loan problem

ICICI jumped 6.3% as of 10.20 am, set for the biggest gain since Oct. 25, and was the top stock on Bloomberg’s Asia Pacific Banks Index.
ICICI Bank’s soured assets have weighed on the bank’s shares, which are the worst performers among private-sector peers since May 2009, when Kochhar took over as CEO.(Hemant Mishra/mint)
ICICI Bank’s soured assets have weighed on the bank’s shares, which are the worst performers among private-sector peers since May 2009, when Kochhar took over as CEO.(Hemant Mishra/mint)
Updated on May 08, 2018 12:27 PM IST
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Bloomberg | By Anto Antony

India can’t dream of double digit GDP till it addresses gender parity | Opinion

Gender parity would add 18 percent to India’s business-as-usual GDP by 2025, according to a new study by McKinsey & Co.
Gender parity would add 18 percent to India’s business-as-usual GDP by 2025, according to a new study by McKinsey & Co.(HT File Photo)
Gender parity would add 18 percent to India’s business-as-usual GDP by 2025, according to a new study by McKinsey & Co.(HT File Photo)
Updated on May 02, 2018 10:44 AM IST
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Bloomberg | By Andy Mukherjee

Two years ago, RBI found no ‘quid pro quo’ in ICICI loans to Videocon: RBI documents

RBI had stated that ICICI Bank had sanctioned a loan of Rs 1,730 crore to the Videocon Group in 2012 as part of a debt consolidation programme undertaken through a consortium of banks led by SBI.
RBI had undertaken a scrutiny in mid-2016 after the PMO referred to it allegations of ICICI Bank CEO Chanda Kochhar’s husband, Deepak reaping windfall gains from his association with Venugopal Dhoot, whose Videocon Group is a large debtor to ICICI.(Reuters File Photo)
RBI had undertaken a scrutiny in mid-2016 after the PMO referred to it allegations of ICICI Bank CEO Chanda Kochhar’s husband, Deepak reaping windfall gains from his association with Venugopal Dhoot, whose Videocon Group is a large debtor to ICICI.(Reuters File Photo)
Updated on Apr 15, 2018 12:51 PM IST
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Press Trust of India, Mumbai | By Press Trust of India

Chanda Kochhar pulls out of event where she was to be felicitated by President

Kochhar was to be the Guest of Honour at an upcoming event by FICCI, and flyers sent out last month mentioned her name prominently. However, the revised ones sent out on Tuesday did not carry her name.
The CBI has launched a preliminary investigation into Rs 3,250 crore loan ICICI Bank had extended to Videocon in 2012 and the role of Chanda Kochhar’s husband in it.(AFP Photo)
The CBI has launched a preliminary investigation into Rs 3,250 crore loan ICICI Bank had extended to Videocon in 2012 and the role of Chanda Kochhar’s husband in it.(AFP Photo)
Updated on Apr 03, 2018 05:53 PM IST
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Press Trust of India, New Delhi | By Press Trust of India

ICICI’s loan to Videocon: CBI investigating case, Chanda Kochhar not a suspect

A CBI official says ICICI managing director and chief executive officer Chanda Kochhar has not been named as a suspect in the case.
File photo of a municipal worker walking past a logo of ICICI Bank at its headquarters in Mumbai.(Reuters photo)
File photo of a municipal worker walking past a logo of ICICI Bank at its headquarters in Mumbai.(Reuters photo)
Updated on Mar 31, 2018 08:50 AM IST
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New Delhi, Hindustan Times | By Rajesh Ahuja

‘Malicious rumours’: ICICI Bank backs CEO Chanda Kochhar over nepotism claims

Multiple reports circulated in online blogs and social media in India last week, alluding to alleged conflict of interest in ICICI’s lending to Videocon, alleging that the conglomerate was favoured by the bank’s CEO.
ICICI Bank's chief executive officer Chanda Kochhar listens to a speaker at a news conference in Mumbai.(Reuters File Photo)
ICICI Bank's chief executive officer Chanda Kochhar listens to a speaker at a news conference in Mumbai.(Reuters File Photo)
Updated on Mar 29, 2018 10:52 AM IST
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PTI, Mumbai | By HT Correspondent

Why Bernstein is right to sound a warning on Indian banks

Bernstein is worried about the systemic ramifications for lenders like ICICI Bank and Axis Bank, as investigating agencies widen their probe into the over $2 billion fraud at state-run Punjab National Bank.
FILE PHOTO: A municipal worker walks past a logo of ICICI Bank at its headquarters in Mumbai October 25, 2013. REUTERS/Danish Siddiqui/File Photo GLOBAL BUSINESS WEEK AHEAD SEARCH GLOBAL BUSINESS 29 JAN FOR ALL IMAGES(REUTERS File Photo)
FILE PHOTO: A municipal worker walks past a logo of ICICI Bank at its headquarters in Mumbai October 25, 2013. REUTERS/Danish Siddiqui/File Photo GLOBAL BUSINESS WEEK AHEAD SEARCH GLOBAL BUSINESS 29 JAN FOR ALL IMAGES(REUTERS File Photo)
Updated on Mar 27, 2018 03:09 PM IST
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Andy Mukherjee, Bloomberg | By HT Correspondent
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