ICICI Bank

Money Laundering Case: RBI Initiating Action against ICICI, HDFC and Axis Banks

Money Laundering Case: RBI Initiating Action against ICICI, HDFC and Axis Banks

It was in last month that online portal named as Cobrapost took the names of the three banks, ICICI bank, HDFC Bank and Axis Bank for indulging in the act of money laundering.

The online portal said that they exposed these banks by carrying out a sting operation. Their investigation revealed that there were some bank officials who offered to launder unaccounted money in insurance schemes.

ICICI Bank Witnesses Rise after Slump

ICICI Bank Witnesses Rise after Slump

After witnessing a decline for past four sessions, ICICI Bank, which is accredited as India's biggest private sector lender, has made a comeback. It has registered growth by 5%, said officials.

It is said that the gain was the highest that the ban has witnessed since November 29, 2012. The growth has further widened the gap between bank's local shares and American Depositary Receipt (ADR). The gap is said to be beneficial for the purchase of the local stocks.

Stay Away from three Banks included in Cobra Sting: Experts

Stay Away from three Banks included in Cobra Sting: Experts

After the allegations were leveled by news portal Cobrapost, three banks caught in the sting operation have launched their individual investigations into the matter. The three private banks that are under scanner are ICICI Bank, HDFC Bank BSE 0.75 % and Axis Bank BSE -1.28 %.

Some bankers at these banks were seen in a sting operation telling customers to avoid tax by declaring oneself as a farmer, offering lockers to hoard cash, and investing these funds in insurance products.

ICICI CEO: “Worrying” global economic scenario could affect capital flows to India

 “Worrying” global economic scenario could affect capital flows to IndiaIn conversation with reporters on the sidelines of the India Economic Summit on Sunday, Chanda Kochhar –Managing Director and CEO of ICICI Bank – said that the "worrying" trends in the economic scenario worldwide could have a notable effect on the capital flows to India.

ICICI Bank raises $1 billion from overseas market

ICICI Bank raises $1 billion from overseas marketICICI bank said in a statement that it has raised $1 billion (about Rs 4,500 crore) through an issue of medium term bonds in overseas markets. These bonds are 5-1/2 years long and carry a coupon of 4.75%.

The release mentioned that bonds are issued at a price of 99.665% by the ICICI bank’s Dubai branch. It is also revealed in the release that issue has received oversubscription of $2.70 billion or approximately Rs12,100 crore, with

ICICI Bank eyeing to acquire French broking franchises

ICICI Bank eyeing to acquire French broking franchises

It has been informed that couple of Indian firms are in race to acquire CLSA and Cheuvreux. They are ICICI Bank and Reliance Capital. CLSA and Cheuvreux are the French broking franchises. It has been expected that deal may be finalized for a total amount of USD 3.5 billion. This has been informed by Agencies who have reported to CNBC-TV18.

AI board selects ICICI to refinance loan

AI board selects ICICI to refinance loan

On Wednesday the Air India panel provided the permission for the loan refinancing worth Rs 5,500 crore, obtained to buy 21 A320 aircraft, to ICICI Bank.

With a modification of security in the civil aviation ministry because of the cabinet restructure, contentious matters were put away from the table. The panel selected ICICI Bank to refinance the loan obtained from an IDBI Bank- directed group to buy 21 lone -aisle aircraft, spares and simulators. The airline has interim loans of Rs19, 000 crore and enduring loans worth Rs 22,000.

India's ICICI Bank sets base lending rate at 7.5pct

India's ICICI Bank sets base lending rate at 7.5pct

The second in command amongst India's lenders ICICI Bank (ICBK. BO) has set its base rate for loans at 7.5 percent which comes into effect from Thursday, as part of a new rule to set minimum lending rates.

The market environment of Home Loan Space has changed; keeping that in mind LIC Housing Finance Limited has announced three different products with varied options which will enable the customers to choose the appropriate one.

Don't see impact of base rate on cos' cost of funds: ICICI

Don't see impact of base rate on cos' cost of funds: ICICI

On Tuesday, all the big public sector banks announced their base rate—their benchmark rate or the maxim below which they can't give loans. The base rate replaces the opaque benchmark prime lending rate (BPLR). This base rate will have under it, the bank's cost of funds and cost of running the bank.

ICICI's BoR deal expected to be over by July-end

After a long tussel and dramas, the merger deal between ICICI bank and Tayal family-owned Bank of Rajasthan (BoR) is expected to be over by July-end.

This information was given by one of the sources close to the deal. The current situation of the deal is not very clear because of the legal issues involved in it along with the employee unrest.

Meanwhile, the board of BoR met on Thursday and has sent the merger proposal to the RBI.