{"id":71453,"date":"2018-04-10T07:35:49","date_gmt":"2018-04-10T07:35:49","guid":{"rendered":"http:\/\/www.bnreport.com\/icici-bank-surges-2-as-board-meet-on-kochhars-fate-looms\/"},"modified":"2018-04-10T07:35:49","modified_gmt":"2018-04-10T07:35:49","slug":"icici-bank-surges-2-as-board-meet-on-kochhars-fate-looms","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/icici-bank-surges-2-as-board-meet-on-kochhars-fate-looms\/","title":{"rendered":"ICICI Bank surges 2% as board meet on Kochhar’s fate looms"},"content":{"rendered":"

NEW DELHI: ICICI Bank<\/a> jumped 2 per cent early Tuesday amid reports that the board of the private lender is divided on whether CEO Chanda Kochhar<\/a> should be asked to step down as government agencies probe charges of nepotism. <\/p>\n

The investigation is in connection with loans made to the Videocon<\/a> group. <\/p>\n

Following the news, the stock rose 1.72 per cent to hit a high of Rs 285.30 on the BSE<\/a>. <\/p>\n

People with knowledge of the matter told TOI that select outside directors are opposed to Kochhar continuing in her role. The board of Indias second-largest private bank may meet as early as this week to consider its next course of action, those familiar with the matter said. <\/p>\n

Kochhars current tenure as CEO is set to end on March 31, 2019, TOI reported. <\/p>\n

The investigation into allegations that ICICI Bank extended a loan with a potential conflict of interest raises questions over the lenders governance and creates reputational risks, global rating agency Fitch<\/a> said in a note on Monday. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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