ICICI Bank Falls As Board Said To Be Divided Over CEO Kochhar’s Future

ICICI Bank Falls As Board Said To Be Divided Over CEO Kochhar’s Future   

Shares of the country’s second-largest private sector lender fell as much as 2 percent to Rs 274.70 as its board is divided over whether to ask her to step down as federal authorities investigate allegations of impropriety over loans made to Videocon group.    

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RBI delaying year-end bonuses to the heads of top private banks — HDFC, ICICI and Axis Bank

RBI Cuts Repo Rate

Gold Silver Reports (GSR) – RBI delaying year-end bonuses to the heads of top private banks — HDFC, ICICI and Axis Bank — Chief executive officers at HDFC Bank Ltd., ICICI Bank Ltd. and Axis Bank Ltd. —the nation’s largest private lenders by assets — are among bankers yet to receive bonuses for the financial year ended 31 March 2017, as the Reserve Bank of India hasn’t signed off on the proposed payments, the people said, asking not to be identified as the information is private. They declined to give further details. Business Standard newspaper had previously reported the delays.                               

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Sobha Shares Surge After Reporting New Sales Volume For December Quarter

Gold Silver Reports (GSR) – Sobha Shares Surge After Reporting New Sales Volume For December Quarter — Shares of the real estate developer rose as much as 10.8 percent, the most in over two months to Rs 564, after the company said that its new sales volume in the fourth quarter rose 40.4 percent at 10.15 lakh square feet, according to its stock exchange notification.                                   

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Asia Stocks Mixed on New Trade Move

Gold Silver Reports (GSR) – Japanese shares fluctuated, while South Korean equities drifted. Futures on the S&P 500 Index declined following three days of gains for the underlying cash index that were driven in part by comments from White House officials indicating talks were in the offing between the world’s top two economies. Chinese markets are shut for a holiday. Crude oil prices dropped and gold rose. Treasuries recovered from recent losses.

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