ICICI Bank

Govt. not to take hurried action against private banks in money-laundering case

Govt. not to take hurried action against private banks in money-laundering caseThe Reserve bank of India (RBI) has found irregularities at private-sector banks ICICI Bank, HDFC Bank and Axis Bank, but the government will not take any action in a hurry, Banking Secretary Rajiv Takru said.

The central bank launched an investigation into the to three private lenders' practices after a sting operation revealed that the banks are helping customers evade taxes via money-laundering.

RBI finds ICICI, HDFC and Axis guilty of violating KYC norms: report

Reserve-Bank-of-IndiaThe Reserve Bank of India (RBI) has reportedly found some private lenders guilty of violating know your customer (KYC) norms.

A source from the central bank revealed that the probe found that officials at ICICI Bank, HDFC Bank and Axis Bank violated KYC norms.

Speaking on the condition of anonymity, the source said, "The RBI, in its probe, has found that there have been some instances where bank officials have not done proper KYC for larger transactions."

ICICI Bank shares rebound after falling in four sessions

ICICI Bank shares rebound after falling in four sessionsThe shares of India's largest private sector lender, ICICI Bank have increased 5 per cent today after falling in four trading sessions.

The shares of the leading bank had fallen about 10 per cent following reports indicating that the bank might be involved in money laundering activities. An online magazine called Cobrapost claimed that its undercover investigation has found that ICICI Bank, HDFC Bank and Axis Bank are involved in money laundering activities in the country. It claimed that the money laundering services are being offered openly across bank branches.

Sensex rebounds 186 points; Bharti Airtel, ICICI Bank rise

Bombay-Stock-ExchangeMumbai, March 21 : Reversing four sessions of losing streak, a key index of Indian equities markets rebounded by nearly one percent Thursday, led by good buying support in banking and consumer durables stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 18,926.21 points, was trading at 19,069.94 points in the afternoon session, up 0.98 percent or 185.75 points from its previous day close at 18,884.19 points.

The Sensex touched a high of 19,082.29 points and low of 18,798.98 points in the intra-day.

Aniruddha Bahal discusses Operation Red Spider

Aniruddha-BahalAniruddha Bahal, whjo is behind some major sting operations in the country exposing large scams, has discussed the latest Operation Red Spider with the media.

The new operation was aimed at exposing the nexus between India's top three private banks and politicians. The operations unearthed the money laundering activities at the banks in the country. The operation as conducted by a single reported working at CobraPost. The operation was conducted by CobraPost's associate editor Syed Masroor Hasan.

Axis Bank launches probe following money laundering allegations

Axis Bank launches probe following money laundering allegationsIndian bank, Axis Bank has launched an investigation after it was alleged that the bank is involved in money laundering activities.

The bank said that it will conduct a thorough investigation into the information that surfaced regarding the alleged money laundering activities at the bank. It said that the management looks at deviations form tis high standards very seriously.

ICICI Bank’s net profit rises 30% to Rs 2,250 crore

ICICI Bank’s net profit rises 30% to Rs 2,250 croreIndia's largest private sector lender, ICICI Bank has said that it has recorded an increase of 30 per cent to Rs. 2,250 crore during the third quarter of the financial year.

The bank said that thebetter than expected profit was as net interest income increased 29 per cent to Rs. 3,500 crore during the third quarter from October to December, 2012. Its other income increased 17 per cent to Rs. 2,215 crore, boosting the profits of the private lender in the quarter.

ICICI Bank launches ‘iWish’ Flexible Recurring Deposit Scheme

ICICI Bank launches ‘iWish’ Flexible Recurring Deposit SchemeIndian leading private sector bank, ICICI Bank has announced the launch of a new online Flexible Recurring Deposit Scheme called, "iWish" aimed at encouraging young customers to save.

The scheme, which is available for existing savings account holders, will allow the customers to device when and how much amount they wish to save. The new scheme will allow customers to easily access their savings online.

RBI establishes supervisory college for SBI and ICICI Bank

Cognizant expected to post 16% growth in 2013 In order to cope with supervisory issues revolving around State Bank of India (SBI) and ICICI Bank, the Reserve Bank of India (RBI) has established a supervisory college for these banks.

The central bank said supervisory colleges have evolved all over the globe as a significant component of efficient supervisory oversight of a banking group. It added that the supervisory college would help reduce supervisory overlap, and bridge supervisory gaps. It added that

ICICI Bank to offer cash-back to home loan customers

ICICI Bank to offer cash-back to home loan customersIndian private sector bank, ICICI Bank is offering unique cash-back offers on home loans to its customers amid difficult economic conditions.

The bank said that the scheme will reduce the cost of borrowing for the customers who stay on for at least three years with a cash-back of 1% of their equated monthly installments (EMIs). The cash-back will be credit to the customer's account of it can be used to repay the loan to the bank.

ICICI reports 30% surge in net profit; PNB suffers decline of 11.5%

ICICI reports 30% surge in net profit; PNB suffers decline of 11.5%Private sector lender ICICI Bank enjoyed a better-than-expected jump of 30 per cent in net profit to Rs 1,956 crore in the quarter ended September year-on-year.

Analysts had projected an increase of around 22 per cent in the bank's quarterly net profit. The bank attributed the better-than-expected net profit to its higher interest income, dividend income from subsidiaries, unwavering net interest margin and better cost management.

ICICI Bank to acquire Karnataka Bank; hits MoU with Africa-based Ecobank

ICICI Bank to acquire Karnataka Bank; hits MoU with Africa-based EcobankMove a step forward to acquire Karnataka bank, private sector lender ICICI Bank has formally submitted a proposal for the same with the Reserve Bank of India (RBI).

According to the submitted proposal, ICICI Bank is ready to acquire Karnataka Bank by paying Rs 240 per share. Karnataka Bank has a book value of 130+.

Private sector lender Karnataka Bank operates throughout the country with more than 500 branches.

ICICI Bank ties up with Ecobank of Africa for joint expansion

ICICI Bank ties up with Ecobank of Africa for joint expansionPrivate sector lender, ICICI Bank has entered into an agreement with Ecobank Transnational Incorporated of Africa for jointly expanding their presence in respective markets.

Vijay Chandok, the president of the international banking group at ICICI Bank signed the memorandum of understanding (MoU) along with Arnold Ekpe, group CEO, Ecobank representing the two banks. ICICI Bank believes that the growing business relationship between India and African countries offes an opportunity for growth.

ICICI Bank, HDFC and Vijaya Bank cuts home loan rates

ICICI Bank, HDFC and Vijaya Bank cuts home loan ratesIn order to woo customers, three private sector lender, viz. ICICI Bank, HDFC and Vijaya Bank, dragged home loan rates down.

ICICI Bank announced a cut of 0.25 per cent to 1 per cent in home loans as part of its special festival offer. The lending rate for home loans of up to Rs. 30 lakh has been cut from 10.50 per cent to 10.25 per cent.

For home loans of between Rs. 30 lakh and Rs. 3 crore, ICICI slashed interest rate from 11.50 per cent to 10.50 per cent.

Broker CLSA recommends buy on ICICI, Axis, HDFC banks

ICICI-Axis-HDFC-banksEncouraged by some recent economic developments in the Indian economy, Asia Pacific-focused brokerage firm CLSA has recommended buy on private banks like ICICI Axis Bank and HDFC Bank.

In its latest report, the CLSA also recommended buy on Tata Steel and Tata Motors, thanks to the improving business of these two companies.

Private sector banks ICICI Bank, HDFC Bank and Axis Bank slashed interest rates on fixed deposits by 25 to 50 basis points across maturities ranging from a 91 days to lower than 5 years.

ICICI, HDFC sash interest rates on fixed deposits

ICICI, HDFC sash interest rates on fixed depositsICICI Bank and HDFC Bank, two of the leading private sector lenders in India, on Wednesday slashed interest rates on fixed deposits.

ICICI slashed interest rates across maturities that range between 91 days and five years. This private sector lender now offers a maximum 8.75 per cent on retail term deposits, 50 basis points lower than 9.25 per cent it had been offering earlier. But, the lender's new maximum rate is still higher then State Bank of India's maximum rate by 25 basis points.

ICICI launches 25 electronic branches across 18 India locations

ICICI launches 25 electronic branches across 18 India locations India's largest private sector bank ICICI Bank has announced the launch of a range of new technology initiatives to make banking even easier experience for customers.The new technological initiative includes the roll out of 25 electronic branches across eighteen locations in the country, and the launch of several internet-based banking services.

RBS Expects NSE Nifty at 5700 by December; Indian Stock Markets Close Positive

RBS Expects NSE Nifty at 5700 by December; Indian Stock Markets Close PositiveRBS Private Banking Chief Investment Officer Rajesh Cheruvu has expressed bullish view about Indian stocks. In an interview, he has given a positive outlook for NSE Nifty to touch 5700 by December this year.

NSE Nifty closed at four month high after gaining further ground in today’s trading session. The markets gained further ground in afternoon session as European markets opened positive.

CRISIL Report Reduces India GDP Growth Target to 5.5%

CRISIL Report Reduces India GDP Growth Target to 5.5%CRISIL Research has cut India GDP growth forecast to 5.5 per cent for 2012-13 based on lower foreign investment inflows to the country. The report has reduced the estimates from earlier 6.5% GDP growth.

CRISIL report also expects the WPI inflation to remain higher at 8 per cent. Indian economy is already struggling lower growth. The policy in-action of UPA government will result in lower foreign investment and can reduce growth in various sectors.

Kamath praises new FM

Kamath praises new FMK. V. Kamath, who is ICICI Bank non-executive chairman as well as the chairman of IT major Infosys, has praised the new finance minister P. Chidambaram.

He said that the Finance ministry is in good hands as Prime Minister Manmohan Singh, who took charge of the ministry after the resignation of then finance minister Pranab Mukherjee for Presidential elections, is set to appoint Chidambaram as the new finance minister of the country.

"The industry needs clarity and policy stability, not concessions. Lack of reforms are not holding back growth. We need to focus on removing bottlenecks," said Mr. Kamath.




Check out More news from Recruitment News :: Admissions :: Exam Results :: Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate


Syndicate content