Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
»
1-min read

Srikrishna Panel Report on Kochhar Expected in 2 Months, Says ICICI Chairman

The former Supreme Court Judge is heading the panel which is probing the allegations of quid pro quo by Kochhar in sanctioning of a loan by ICICI Bank.

PTI

Updated:August 23, 2018, 10:04 PM IST
facebookTwitterskypewhatsapp
Srikrishna Panel Report on Kochhar Expected in 2 Months, Says ICICI Chairman
File photo of Chanda Kochhar. (PTI)
Loading...

New Delhi: ICICI Bank Chairman GC Chaturvedi said on Thursday that the decision on continuance of managing director and CEO Chanda Kochhar will be taken after the Justice B N Srikrishna panel report -- probing certain allegations against her -- is finalised, which is likely in two-and-a-half months.

The former Supreme Court Judge is heading the panel which is probing the allegations of quid pro quo by Kochhar in sanctioning of a loan by ICICI Bank.

He further said that pending the report Kochhar remains the CEO of ICICI Bank.

Kochhar, however, is on indefinite leave following the conflict-of-interest allegations.

"The bank is yet to reply on Videocon notice by Sebi as we are waiting for Srikrishna panel report. We expect the Report in 2-2.5 months," he said on the sidelines of an event here.

On the latest quarterly losses posted by the bank, he said that they were due to RBI norms.

The Reserve Bank of India should be open to reconsidering the one day default norms.

Posting its first quarterly loss, ICICI Bank reported a net loss of Rs 119.5 crore for the three months to June due to higher provisioning for bad loans. It had posted a net profit of Rs 2,049 crore in the year-ago period.

However, on a consolidated basis, ICICI Group posted a meagre profit of Rs 4.93 crore, compared to Rs 2,604.73 crore a year ago.

Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities, including the Videocon group.

Multiple agencies, including CBI and markets regulator Sebi, are already probing the alleged lapses involving Kochhar and her family members.

The current tenure of Kochhar, who has been at the helm since 2009, ends next March.

| Edited by: Parth Sharma
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Axis Bank 800.45 1.50
Reliance 1,274.15 -1.55
HDFC Bank 2,462.30 -0.23
SBI 362.15 1.12
Indiabulls Hsg 627.45 2.48
Company Price Change %Gain
Shriram Trans 1,100.55 0.05
Liquid Bees 1,000.00 0.00
Embassy Office 370.00 0.00
Indiabulls Hsg 627.40 2.51
Asian Paints 1,366.45 0.48
Top Gainers
Company Price Change %Gain
Tata Motors 165.85 2.95
Indiabulls Hsg 630.55 2.99
M&M 657.90 2.24
ONGC 170.60 1.82
Eicher Motors 19,479.30 1.71
Company Price Change %Gain
Tata Motors 165.40 2.67
M&M 658.00 2.29
ONGC 169.90 1.46
Axis Bank 800.35 1.44
HDFC 2,194.45 1.22
Top Losers
Company Price Change %Gain
Tech Mahindra 701.95 -2.25
Adani Ports 406.50 -2.04
UPL 943.50 -1.56
Reliance 1,274.15 -1.55
HCL Tech 1,062.75 -1.48
Company Price Change %Gain
Reliance 1,274.85 -1.52
HCL Tech 1,064.00 -1.52
ITC 273.55 -1.37
Infosys 730.85 -1.19
Power Grid Corp 207.55 -1.10

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results