(In insurance ventures, banks can hold either less than 30% or more than 50% in accordance with the Reserve Bank of India guidelines.) ICICI Bank (the bank) currently holds 48.02% stake in ICICI Lombard (Lombard). Originally, the plan of ICICI bank was to reduce this stake to 30% for which RBI had allowed the bank … Read more
The government has declared the IT resources of ICICI Bank, HDFC Bank and UPI managing entity NPCI as ‘critical information infrastructure’, implying any harm to them can have an impact on national security and any unauthorised person accessing these resources may be jailed for up to 10 years, according to an official notification. The Ministry … Read more
ICICI Bank’s Managing Director and Chief Executive Officer Sandeep Bakhshi was chosen as the Business Standard Banker of the Year 2020-21 for turning around the private sector lender both in terms of performance and perception during his tenure of the past three and a half years. A jury of five members chaired by former RBI … Read more
ICICI Bank has scrapped the bell curve assessment for employees which rewards individual outperformers, as part of a human resource (HR) policy overhaul. This means employee targets based on individual performances have been done away with for the first time in its history. Salary hikes and bonuses will now be linked directly to the bank’s … Read more
ICICI bank calls it – interoperable app What is it? In general you can not use any bank’s app if you are not it’s customer. Every bank asks the user to login before using. ICICI decided to do away with it last year, did a soft launch in December 2020 and a full launch in … Read more
As per my employee contacts at ICICI Bank, lot seems to have changed since Sandeep Bakhshi took over. He is focused, detail oriented and a boring banker. Result – there is less focus on market position but more on effective growth by identifying the available market opportunities. Unit economics and credit quality has become a … Read more
Mumbai: After mounting an effort to rescue Yes Bank last month, three private sector lenders have already sold part of their stakes between 17 March and 31 March, showed shareholding data from BSE. The highest number of shares were sold by Federal Bank at 5.86 crore, followed by Kotak Mahindra Bank at 4.72 crore and … Read more