Icici

  • ICICI Bank Q1 net profit up 17 pct, beats estimates Yesterday

    New Delhi: ICICI Bank Ltd(ICBK.NS), India's second-biggest lender by assets, reported a 17 percent rise in quarterly profit, beating estimates, helped by loan growth and higher fee income. Net profit for its fiscal first quarter ended June rose to 26.55 billion rupees ($440 million) from 22.74 billion rupees a year earlier,...
  • Want bank with right size, right value for takeover: Chanda Kochhar July 7, 2014

    Mumbai: ICICI Bank will look at acquiring a bank if it finds one with the right size and right valuation, but is yet to find a takeover target that fits in its evaluation model, the bank chief Chanda Kochhar said. ICICI Bank, which added 650 branches to its network in the...
  • SBI's Bhattacharya, ICICI's Kochhar among Forbes' most powerful women May 28, 2014

    New York: State Bank of India Chairperson Arundhati Bhattacharya and ICICI Bank Managing Director Chanda Kochhar are among the five women from India featured in Forbes' 100 most powerful women in the world, a list topped by German Chancellor Angela Merkel. Bhattacharya is ranked 36th on the power list, while Kochhar is...
  • Narendra Modi may push ahead with diesel price deregulation May 20, 2014

    New Delhi: Narendra Modi's landslide victory gives him the mandate to deregulate diesel prices as well as raise natural gas rates with a clear road map towards free pricing to cut subsidies and shrink the budget deficit. With the biggest election win in 30 years, the Modi-led National Democratic Alliance is...
  • Asset quality of banks deteriorating at frightening pace: Study May 14, 2014

    New Delhi: The asset quality in banks has deteriorated at a "frightening pace" during 2013-14 fiscal with public sector banks bearing the maximum brunt of bad loans, a RBI panel report has said. At the quarter ended December 2013, banks collectively held loan provisions of Rs 98,593 crore, an increase...
  • ICICI reports deposit of Rs 10 cr fake currency notes over several years April 9, 2014

    Country's largest private sector bank ICICI Bank has lodged an FIR alleging fake currency notes with a face value Rs 10 crore were deposited in its different branches in the past several years. Regional Head of ICICI Bank Manish Pandey lodged an FIR at Hazratganj police station alleging that fake currency...
  • Sensex at record high of 21,337.67; pharma, metal shares gain January 22, 2014

    Mumbai: The BSE benchmark index Sensex on Wednesday closed at record high of 21,337.67 points gaining 86.55 points as buying emerged in pharma, metal and banking stocks on expectations of strong corporate earnings and rate cut by the Reserve Bank. The 30-share barometer, which rose for the third straight day, surpassed its...
  • Sensex falls 37 points in the third day of losses; IT stocks shine January 3, 2014

    Mumbai: After dropping 157 points in early trade amid weak global cues, the Sensex on Friday recouped some losses in the latter half on the back of continued strength in IT stocks to end the day with a 37-point fall. Selling in bluechips led by auto sector on reports of lower...
  • Sensex falls 265 points as bulls pause for breather November 5, 2013

    Mumbai: The Sensex and Nifty snapped a five-day winning streak Tuesday, even as an increasing number of players are turning positive on India. The Sensex shed 264.57 points or 1.25 percent to close at 20974.79, and the Nifty fell 64.20 points or 1.02 percent to end at 6253.15. While the...
  • ICICI Bank Q2 net profit up 20 per cent, beats estimates October 25, 2013

    ICICI Bank Ltd, India's largest private-sector lender by assets, posted a 20.1 per cent rise in second-quarter profit, beating analyst estimates, led by higher credit growth and income from fees. Net profit for July-September was 23.5 billion rupees compared with 19.6 billion a year earlier, the bank said on Friday. Net...
  • Asian destinations favourite for Indian vacationers: Survey September 26, 2013

    Mumbai: Asian destinations like Singapore, Dubai and Thailand are fast emerging as the favourite destinations for Indian travelers, pushing the US, Australia and Mauritius to the back-burner as expenses are spiraling with fall in rupee's exchange value, says a survey. "Singapore, Dubai and Thailand are replacing the US, Australia and Mauritius...
  • RBI opens spl 2-day MSF window to meet advance tax demand September 14, 2013

    The Reserve Bank opened a special two-day funding window for banks through the marginal standing facility (MSF) today to help them meet liquidity needs as there would be higher demand for funds on account of advance tax payment. "Given the market conditions, we have decided to offer two-day funds to banks...
  • We can all be proud of the Gujarat model, says KV Kamath September 14, 2013

    In a first reaction coming in from the corporate sector on the anointment of Narendra Modi as BJP's PM candidate, Independent Director, Infosys KV Kamath said that the Gujarat model is something that 'we all can be proud of'. He added that he did not see a reason why the...
  • ICICI Bank launches 'branch on wheels' September 6, 2013

    Mumbai: As part of its financial inclusion initiative, ICICI Bank on claimed to have become the first private sector lender to launch a 'branch-on-wheels' drive and will have five more such facilities in three states in 2013.. Maharashtra Chief Minister Prithviraj Chavan launched the branch-on-wheel in the sugar hub of Kolhapur...
  • Chidambaram meets top bankers to shore up fund inflows August 24, 2013

    Finance Minister P Chidambaram on Saturday held a closed-door meeting here with top bankers to take stock of the situation in the wake of rupee volatility and ways to shore up foreign capital to bridge the widening current account gap. The minister, who will also be meeting foreign institutional investors whose...
  • ICICI Bank raises base rate by 0.25 per cent to 10% August 22, 2013

    Mumbai: ICICI Bank, the country's largest private sector lender, on Thursday increased its lending rate by 0.25 per cent to 10 per cent with effect from Friday. The bank also effected a similar hike in its prime lending rates, which will be applicable to existing customers who are on the...
  • Vodafone,ICICI launch M-Pesa money transfer service in Bihar August 6, 2013

    Telecommunication major Vodafone India in association with ICICI bank has started the unique money transfer and payment service "M-Pesa" in Bihar and Jharkhand where banking network and financial penetration is inadequate, particularly, in rural areas. "The 'M-Pesa' service launched in December last year is available across 32 districts and 250 tehsils...
  • Delhi Police arrests con man for credit card frauds July 15, 2013

    New Delhi: A con man from Maharashtra who cheated ICICI Bank customers by obtaining their credit card data has fallen into the Delhi Police net after illegal online transactions of over Rs 1 crore in the past one year, said an official on Sunday. Raju Tevar was arrested last week by...
  • ICICI credit card scam: Police arrests main accused, tracks his location using Facebook July 14, 2013

    New Delhi: Delhi police have busted a credit card scam involving ICICI bank. The main accused was tracked down using his Facebook location and pictures. The con man, Raju Tevar, had cheated ICICI Bank customers by obtaining their credit card data. Investigators found his photograph on his account on Facebook, a...
  • Private banks step up hiring; top-five add over 15,000 staff June 16, 2013

    Leading private sector lenders are in top gear when it comes to expanding their headcount and just five of them, including ICICI Bank and HDFC Bank, added more than 15,000 employees to their payrolls in the last fiscal. The expanded workforce also seems to be giving them rich dividends in terms...
  • Cobrapost expose: RBI penalises Axis, HDFC, ICICI banks June 10, 2013

    Mumbai: Three private banks, caught in the Cobrapost sting operation, have been let off the hook with paltry penalties. The Reserve Bank of India on Monday imposed penalties on Axis, ICICI and HDFC banks after a sting operation by online magazine Cobrapost exposed many loopholes. RBI imposed a penalty of Rs...
  • Some truth in Cobrapost expose, will take action: RBI May 30, 2013

    Ahmedabad: There is "some truth" in Cobrapost's allegations of wrong doings by banks and RBI has issued notices to their managements, central bank Governor D Subbarao said on Thursday. "We have done study of those banks, investigated them ... We have done a larger study of those banks and we have...
  • I-T dept issues notices to ICICI, Axis, HDFC banks May 28, 2013

    New Delhi: Income Tax department has issued notices to three top private lenders in the country - ICICI Bank, Axis Bank and HDFC Bank - in connection with alleged money laundering charges levelled by online portal Cobrapost. The department has asked these banks to produce documents for verification as part of...
  • RBI probes Cobrapost report, reveals major violations by banks May 13, 2013

    New Delhi: The Reserve Bank of India is probing the Cobrapost sting operation on alleged money laundering by top banks. The RBI report has revealed major irregularities in top banks. The report shows string of violations on several counts. Sources say the RBI report reveals dummy PANs, unknown NRO IDs,...
  • Difficult to cut interest rates soon: Banks May 3, 2013

    Mumbai/ New Delhi: Big banks say it will be difficult for them to pass on the benefit to customers even though the Reserve Bank of India (RBI) cut repo rate by 25 basis points on Friday even though the cash reserve ratio was left untouched. The banks say RBI's move...
  • HDFC Bank Q4 net profit up 30 pc, meets forecast April 23, 2013

    Mumbai: HDFC Bank Ltd, India's No.3 lender by loan value, met forecasts with a 30 per cent rise in quarterly profit on Tuesday led by higher loan growth, fee income and stable asset quality. Mumbai-based HDFC Bank, which has posted profit growth of more than 30 per cent every year for...
  • Fraud costs ICICI Prudential Rs 90 lakh, probe on March 31, 2013

    New Delhi: Fraudsters have managed to steal customer database from ICICI Prudential causing a "loss" of over Rs 90 lakh to the insurance major after some policy holders either surrendered or discontinued policies believing the cheats. Delhi Police's Economic Offences Wing have launched a probe into it following the registration...
  • Money laundering: RBI gives clean chit to private banks March 21, 2013

    New Delhi: Reserve Bank of India Deputy Governor KC Chakrabarty has given a clean chit to private banks named in the Cobrapost expose on money laundering. The Central bank said there was no systemic issue involved in the Cobrapost allegations. According to Chakrabarty, there were no irregularities in the way the...
  • ICICI Bank shares gain 4.3 per cent on value buying March 21, 2013

    Mumbai: Shares in ICICI Bank gain 4.3 per cent, heading towards its biggest single-day gain since November 29, 2012, on value buying after steep recent falls over allegations of money laundering by a local journalist. Traders say the gap between ICICI Bank's local shares and American Depositary Receipt has significantly increased,...
  • Money laundering: 'RBI teams to audit banks' March 18, 2013

    New Delhi: In more trouble for the banks that were indicted in a recent Cobrapost expose, which caught some of the employees of HDFC, ICICI and Axis banks offering money laundering services, the Reserve Bank of India (RBI) has sent its teams to those branches of the banks for an...