India is undergoing a crisis of confidence in its banking system. In these bleak times lies an opportunity to unleash reforms and strengthen governance.
Sebi Chairman Ajay Tyagi today said the regulator is yet to receive reply from the ICICI Bank on allegations involving its CEO Chanda Kochhar.
After opening on a positive note, the key Indian equity indices ceded their gains to trade in the negative territory in the afternoon session.
BSE Sensex surrendered its initial gains to trade flat in late morning trade today amid buying in energy, realty, IT and consumer durables counters.
Indian markets seen opening sideways due to mixed Asia and U.S. cues. U.S. markets closed in the green on Wednesday. SGX Nifty trading with a slight positive bias.
ICICI bank appointed N.S. Kannan as the Managing Director and Chief Executive Officer (CEO) of ICICI Prudential Life Insurance Company, "subject to regulatory and other approvals".
The ICICI Bank announced that its CEO Chanda Kochhar would be on leave till completion of the internal enquiry against her and named Sandeep Bakhshi as COO.
Board members of ICICI Bank are meeting today to decide on the appointment and the scope of the BN Srikrishna panel to look into the allegations of conflicts of interest against Chanda Kochhar.
Shares of ICICI Bank rose by 4 per cent, adding Rs 6,631.15 crore to its market valuation, amid reports of reshuffle of top management.
The key Indian equity indices traded on a flat-to-negative note afternoon tracking weakness in the benchmark global markets and ressurgent concerns of a global trade war.
JSW Steel Limited
May bid for Arcelor-Mittal's Romanian plant
Gets DCGI's marketing nod for key cancer drug
Inks 5-year I.T. Infra deal with Nokia
BANK OF MAHARASHTRA
To raise Rs 3,000 Crore equity capital
Plans to launch 50 cvs this fiscal
Company may bid for Arcelormittal's Romanian plantco
Proposes investment of $500 Mn to upgrade steel manufacturing unit at Ohio, USA
Integrated steel manufacturing unit in Ohio, with potential capacity of 3 MTPA
Company gets marketing nod for Durvalumab drug from DCGI
Durvalumab is a patented product of AstraZeneca Global
Permission significant for patients with limited treatment options
Nokia signs 5-year global I.T. Infra & application services deal with company
Company will transition services from four incumbent vendors
Will build on strong existing engineering-centric partnership with this deal worth $500 Mn
BANK OF MAHARASHTRA
Gets shareholders' nod for raising equity capital upto Rs 3,000 Cr
Bank union requests govt to intervene in bank's arrests
AIBEA writes to DFS secy to step-in to save bank's reputation
May have rotating chairman till full time chairman is appointed
U.S. Investors of bank want Kochhar to quit
Investors will be confident if external candidate is appointed as CEO: Macquarie
TOI & ET REPORTS