Former ICICI Bank CEO and MD Chanda Kochhar files a petition in the Bombay High Court, challenging the board’s approval to prosecute her in the Videocon loan case. Kochhar alleges that proper procedures were not followed in granting the sanction. She and her husband were arrested in December 2022.
Reliance Industries, ICICI Bank, Infosys, HDFC Bank, and TCS could be the primary beneficiaries of a recent decision by the Federal Retirement Thrift Investment Board, a US Pension Fund, to change its benchmark index for its International Stock Index Investment Fund. The move is estimated to result in flows worth $3.7-$3.8 billion into Indian equities in 2024.
Market expert Sudip Bandyopadhyay discusses the impact of RBI’s policies on the banking sector and shares insights on the trajectory of Nifty Bank. He also talks about the upcoming IPOs and gives an outlook on the trends to watch for FIIs in the Indian market.
The Reserve Bank of India (RBI) has fined ICICI Bank nearly Rs 12.2 crore for lending rule violations and reporting delays in fraud cases. This penalty exceeds the previous Rs 10-crore fine imposed on HDFC Bank for irregularities in auto loans. The RBI has also fined Kotak Mahindra Bank around Rs 4 crore for violations in risk management, outsourcing, recovery agents, and loan practices.
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Independent Market Expert, Hemang Jani, suggests investors consider Bajaj Finance for stable returns of around 18-20%, while recommending Axis Bank and ICICI Bank for better growth prospects. Jani highlights Bajaj Finance’s healthy growth in assets and parameters, making it a recommended stock for investors seeking stable returns. However, for those looking for growth, Jani suggests considering banks like Axis Bank or ICICI Bank, which offer better growth prospects due to higher valuation comfort.
