Gold Silver Reports (GSR) – ICICI Bank Defends Chanda Kochhar In Statement — India’s second largest private bank ICICI Bank Ltd. has expressed its “full faith” in chief executive Chanda Kochhar to dispel concerns that resurfaced around the sanctioning of loans to debt-laden Videocon Industries Ltd, and alleged loans to a firm founded by her husband.
The board has full confidence and reposes full faith in the bank’s managing director and CEO Chanda Kochhar, the private lender said in a stock exchange filing. The board also reviewed the bank’s internal credit approval processes and found them robust, the filing added.
Read More: ICICI Bank Says No Question Of Nepotism Or Conflict Of Interest By Chanda Kochhar
ICICI Bank said that its processes are such that “no individual employee, whatever may be his or her position, has the ability to influence the credit decision at the Bank”. It also clarified that none of the investors of NuPower Renewables are borrowers of ICICI Bank. – Neal Bhai Reports (NBR) INDIA
