ICICI Bank Officer Arrested in Rs 4.58 Crore Fixed Deposit Fraud
A relationship manager at ICICI Bank's Kota branch in Rajasthan has been arrested for allegedly defrauding Rs 4.58 crore from 110 fixed deposit accounts of 41 customers over a three-year period from 2020 to 2023. The manager reportedly diverted the funds into the stock market, resulting in heavy losses. ICICI Bank has acknowledged the fraud and committed to compensating affected customers. The incident raises concerns about internal controls and customer trust in the bank.
A significant block trade of 681,555 ICICI Bank shares occurred on the National Stock Exchange (NSE). The transaction was valued at Rs. 97.99 crore, with shares priced at Rs. 1,437.80 each. This large-scale trade indicates substantial investor activity in one of India's leading private sector banks, potentially influencing short-term market dynamics.
29May 25
ICICI Bank Shares: Major Block Trade Worth Rs. 160.09 Crore Executed
A significant block trade of ICICI Bank shares occurred on the National Stock Exchange. 1,104,517 shares were traded at Rs. 1,449.40 per share, totaling Rs. 160.09 crore. This large-scale transaction highlights ongoing interest in one of India's leading private sector banks and may indicate portfolio adjustments by major market players.
28May 25
SAT Directs SEBI to Grant Chanda Kochhar Access to ICICI Bank Documents in Videocon Case
The Securities Appellate Tribunal (SAT) has directed SEBI to grant former ICICI Bank CEO Chanda Kochhar access to crucial documents filed by the bank in the Videocon loans case. This includes show cause notices, replies, and electronic records. SAT emphasized that denying access would violate natural justice principles, as allegations against Kochhar and ICICI Bank stem from the same facts. This ruling could significantly impact Kochhar's defense strategy in the ongoing case investigating alleged irregularities in loans granted to the Videocon Group during her tenure.