Chanda Kochhar may be allowed to continue as the CEO and Managing Director of ICICI Bank as the FinMin does not favor any abrupt change.
Kochhar has been under siege over allegations of a conflict of interest in a Rs 3,250-crore loan extended by ICICI Bank to the Videocon Group in 2012.
Since institutional investors have red-flagged the issue, the ICICI Bank board may meet shortly to address the issue of governance at the bank.
The government is represented on the ICICI Bank board by Lok Ranjan, Joint Secretary in the Department of Financial Services. VK Sharma, Chairman of state-owned Life Insurance Corporation, is also on the Board of the Bank.
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For now, Chanda Kochhar may continue at ICICI Bank
By IndianMandarins - 2018-04-11 09:39:39
Chanda Kochhar may be allowed to continue as the CEO and Managing Director of ICICI Bank as the FinMin does not favor any abrupt change.
Kochhar has been under siege over allegations of a conflict of interest in a Rs 3,250-crore loan extended by ICICI Bank to the Videocon Group in 2012.
Since institutional investors have red-flagged the issue, the ICICI Bank board may meet shortly to address the issue of governance at the bank.
The government is represented on the ICICI Bank board by Lok Ranjan, Joint Secretary in the Department of Financial Services. VK Sharma, Chairman of state-owned Life Insurance Corporation, is also on the Board of the Bank.
