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ICICI Bank hikes MCLRs by 10 bps across tenures
Posted on 4th December 2018 |
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ICICI Bank, the country’s third-largest lender by assets, raised its marginal cost of funds-based lending rates (MCLRs) by 10 basis points (bps) across tenures. Its one-year MCLR now stands at 8.8%. MCLRs for other tenures range between 8.55% and 8.75%. The revised rates came into effect on Saturday. |
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ICICI Bank to raise 25,000 crore to fill void left by NBFCs
Posted on 20th November 2018 |
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Mumbai: ICICI Bank Ltd has drawn up a plan to raise as much as ₹25,000 crore for on-lending as India’s second largest private lender seeks to fill in the vacuum left by non-banking financial companies (NBFCs), which are facing a liquidity squeeze. ICICI Bank intends to issue non-convertible debentures (NCDs) and other fixed-income securities for raising funds in the year ahead, according to a document sent recently to shareholders after its annual general meeting. |
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ICICI Bank increases fixed deposit rates by 10-25 bps
Posted on 15th November 2018 |
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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. |
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ICICI Bank offering 45-day interest free credit upto Rs 20,000 to select customers
Posted on 1st November 2018 |
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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. |
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Bad news for Chanda Kochhar: Law firm pulls back clean chit, says ICICI Bank
Posted on 25th October 2018 |
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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. |
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ICICI Bank gets RBI clearance to appoint Sandeep Bakhshi as its MD and CEO
Posted on 16th October 2018 |
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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. |
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Chanda Kochhar seeks more time to appear before Sebi for a personal hearing
Posted on 15th October 2018 |
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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. |
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ICICI Bank: Chanda Kochhar finally goes, Sandeep Bakhshi to head bank
Posted on 5th October 2018 |
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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. |
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