Mumbai: ICICI Bank Ltd has drawn up a plan to raise as much as ₹25,000 crore for on-lending as India’s second largest private lender seeks to fill in the vacuum left by non-banking financial companies (NBFCs), which are facing a liquidity squeeze. ICICI Bank intends to issue non-convertible debentures (NCDs) and other fixed-income securities for raising funds in the year ahead, according to a document sent recently to shareholders after its annual general meeting.

Private sector lender ICICI Bank has increased its fixed deposit rates by 10-25 basis points (bps) for various maturities. For the 1 year-up to 389 day period, the new rate will be 6.9%, up 15 bps, while for 390 days-to-two years, the rate is 7.1%. For over 2 years up to 3 years, the bank will offer 7.5% to the depositor. Deposit rates have also been raised by 25 bps for some shorter tenures.

New Delhi: ICICI Bank today launched a new short-term digital credit facility for its customers under which they can get instant pre-approved loans of upto Rs 20,000 for online shopping, paying bills and also for settling bills at offline stores using UPI platform. Currently an invite-only feature, ICICI Bank’s new offering is aimed at the young and millennial customers who want everything digitally and instantaneously, including credit.

ICICI Bank shares zoomed nearly 10% on Monday after the bank’s quarterly results showed an improvement in asset quality for the quarter ended September 2018. ICICI Bank share price surged by 9.8% to an intra-day high of Rs 346.55 per share on the NSE on Monday, the highest level in over a month. ICICI Bank was the top gainer on both the Sensex and Nifty indices in Monday’s trade.

ICICI Bank on Tuesday said a leading law firm has taken down a 2016 report exonerating the bank’s former head Chanda Kochhar from charges of nepotism and conflict of interest with regard to loans given to the Videocon Group. The law firm in question is understood to be Cyril Amarchand Mangaldas.

Private sector lender ICICI Bank Tuesday said the RBI has approved Sandeep Bakshi's appointment as Managing Director and CEO of the bank for three years.

After resignation of Chanda Kochhar, who was facing inquiry, earlier this month, the bank's board had elevated Chief Operating Officer (COO) Bakshi as the new managing director and CEO for five years until October 3, 2023, subject to regulatory and other approvals.

ICICI Bank’s former managing director and chief executive officer (MD and CEO), Chanda Kochhar, has sought more time to appear before the Securities and Exchange Board of India (Sebi) for a personal hearing, said a source in the know.

Kochhar has been issued a showcause notice by the regulator for alleged violation of the code of conduct.

Chanda Kochhar, who helmed the country’s second-largest private lender ICICI Bank for nine years since 2009, on Thursday stepped down as managing director (MD) and chief executive officer (CEO) amid allegations of irregularities in loans given to the Videocon Group. Shares of ICICI Bank ended 4.07% higher than their previous close on the BSE at Rs 315.95.

ICICI Bank on Thursday informed stock exchanges that it had accepted its managing director and chief executive officer Chanda Kochhar’s request for a retirement from the bank at the earliest.

Kochhar will also quit the boards of directors of the bank and its various subsidiaries.

The Allahabad bench of the National Company Law Tribunal on Monday asked Jaiprakash Associates to reply by Tuesday regarding the notice it issued to the company on September 10 on the petition of ICICI Bank initiating insolvency proceedings against the company.

The two-member bench also asked ICICI Bank to file any rejoinder to JP Associates reply by September 20 and has scheduled the matter for hearing on September 26.

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