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Govt asks banks to open 15,000 branches in FY21

Thursday, January 16, 2020, 3:36 PM

Govt asks banks to open 15,000 branches in FY21

In a scramble to meet its financial inclusion agenda, the federal government handed lenders a list of location wise branches to be opened by both state-run and private banks, said the source. Lenders including State Bank of India, Bank of Baroda, HDFC Bank and ICICI Bank will open 14,000-15,000 branches in the coming year to reach the unbanked as per a government directive.

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Chanda Kochhar moves Bombay HC against ICICI Bank, hearing on December 2

Saturday, November 30, 2019, 8:34 PM

Chanda Kochhar moves Bombay HC against ICICI Bank, hearing on December 2

Managing Director and CEO of ICICI Bank has moved the Bombay High Court against the bank on her 'termination' from the company. The matter is listed on the Bombay High Court website on its cause list for December 2. This would be the first such case in India where a private bank's former chief has moved court against termination.

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Chanda Kochhar moves High Court against ICICI Bank over termination

Saturday, November 30, 2019, 3:24 PM

Chanda Kochhar moves High Court against ICICI Bank over termination

Former ICICI Bank chief executive, Chanda Kochhar, has moved the Bombay High Court against her ex-employer for terminating her when the bank had accepted her request for early retirement. Kochhar, one of India's most prominent woman CEOs, said that Sandeep Bakshi was named her successor only after ICICI Bank had accepted her request for early retirement.

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PhonePe in talks with ICICI Bank for UPI play

Monday, September 30, 2019, 9:49 AM

PhonePe in talks with ICICI Bank for UPI play

Digital payments major PhonePe is working with private sector lender ICICI Bank to forge a partnership and offer Unified Payments Interface-based digital transactions to its customers, according to two people in the know of the matter. This move could be a direct fallout of the mandate from the National Payments Corporation of India (NPCI), which manages UPI payments in the country.

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Chronicling the journey of Indian private banks

Wednesday, August 7, 2019, 9:01 PM

Chronicling the journey of Indian private banks

Twenty five years ago when Aditya Puri and Paresh Sukthankar sat with a band of bankers to tell potential investors in the initial public offering of HDFC Bank what they intended to do in their first three years, few knew what was possible. But regulations demanded they provide a business plan if they wanted capital from public markets.

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Tweet Buster: Tax cut on EVs is not enough; all eyes on RBI meet

Sunday, July 28, 2019, 5:20 PM

Tweet Buster: Tax cut on EVs is not enough; all eyes on RBI meet

Pessimism ran high on Dalal Street this week with benchmark indices ending lower in four out of five-sessions. The last-minute respite on Friday came from a handful of stocks, not quelling away the fears of a bear market. Some of the top D-Street analysts believe that we are in this bear phase for the long haul and many blame government policies for the same.

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Sensex logs 2nd biggest fall of 2019, Nifty at 11,419

Saturday, July 20, 2019, 8:21 AM

Sensex logs 2nd biggest fall of 2019, Nifty at 11,419

Equity benchmark indices Sensex and Nifty extended their decline for the 2nd-day on Friday as markets witnessed a sharp sell-off aided by auto, NBFC and PSU bank-stocks. Asian Development Bank lowered India's GDP growth-forecast to 7% for the current year on the back of fiscal-shortfall-concerns. BSE Sensex closed 560.45-points, or 1.44%, lower at 38,337.01. While NSE Nifty ended at 11,419.25, down 177.65-points or 1.53%.

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Banks bad loans down at Rs 9.34 lakh crore at FY19-end: Nirmala Sitharaman

Wednesday, July 17, 2019, 8:42 AM

Banks bad loans down at Rs 9.34 lakh crore at FY19-end: Nirmala Sitharaman

Total bad loans of commercial banks declined by Rs.1.02-lakh-crore to Rs.9.34-lakh-crore in the 2018-19 fiscal on the back of steps taken by the government, Finance Minister Nirmala Sitharaman said. Sitharaman said the SCBs effected record recovery of Rs.4,01,424 crore over the last four financial years, including record recovery of Rs.1,56,746-crore during 2018-19 ( provisional data for 2018-19, as reported by RBI on July-9, 2019).

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ICICI Reported Most Number Of Fraud Cases In 11 Years Worth 5,000 Crores

Thursday, June 13, 2019, 7:45 AM

ICICI Reported Most Number Of Fraud Cases In 11 Years Worth 5,000 Crores

Of over 50,000 frauds that hit banks in India in the last 11 fiscal years, the ICICI Bank, SBI and HDFC Bank reported highest number of cases, according to an RBI data. Of the total 53,334-cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs.2.05 lakh crore, ICICI Bank reported the highest number of cases at 6,811 involving Rs.5,033.81 crore.

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Over Rs 2.05L cr frauds in 11 years: ICICI, SBI among top victims

Wednesday, June 12, 2019, 2:54 PM

Over Rs 2.05L cr frauds in 11 years: ICICI, SBI among top victims

Of over 50,000 frauds that hit banks in India in the last 11 fiscal years, the ICICI Bank, SBI and HDFC Bank reported highest number of cases, according to an RBI data. Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs.2.05 lakh crore, a highest of 6,811 were reported by the ICICI Bank involving Rs.5,033.81-crore.

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