Supreme Court Questions CBI Over Chanda Kochhar's Interim Bail Extension for 11 Months
Newsmen Business Desk -
During the proceedings, the court noted an adjournment request made on Kochhar's behalf and questioned the continuation of her interim bail.
RBI slaps Rs 12 cr fine on ICICI Bank, Rs 3.85 cr penalty on Kotak Mahindra Bank
"The penalty on ICICI Bank was imposed for contravention of sub-section (1) of Section 20 of the Banking Regulation Act, 1949 (the BR Act) read with directions issued by RBI on 'Loans and Advances-Statutory and Other restrictions', sub-section (2) of Section 6 and Section 8 of the BR Act read with directions issued by the RBI on ‘Financial Services provided by the Banks’, and non-compliance with the RBI directions on ‘Frauds classification and reporting by commercial banks and select Fls," the RBI said.
ICICI Lombard stock reacts after company receives GST show cause notice of Rs 1728 crore
Additionally, Coforge also received a tax demand notice for Rs. 82.9 billion for FY2019–20, he said.
'Valuation gap between ICICI Bank and HDFC Bank may not widen in short run'
“Post merger of HDFC and HDFC Bank, we believe, the valuation re-rerating will be delayed factoring margin squeeze,” Ajit Kabi, Banking Analyst at LKP Securities said. "The impact on the return profile will be keenly watched in the coming period. Hence, in the short run, we don’t see the valuation gap widen between HDFC Bank and ICICI Bank," he added.
'Indian corporate sector begins to contribute to growth of gross fixed capital formation'
Post-pandemic economic recovery was largely driven by growth in GFCF. It grew 25.6 per cent year-on-year (YoY) during FY22 to reach Rs 67.9 trillion in nominal terms. The growth in FY22 was largely driven by household investments into real estate and central government push towards infrastructure capex while state governments and corporates lagged in terms of capex growth, the report notes.
Why Sahara India Life to go to SBI Life, not ICICI Prudential Life? Unanswered questions
The Insurance Regulatory and Development Authority of India (IRDAI) on Friday ordered the transfer of Sahara India Life's insurance business to listed SBI Life Insurance Company Ltd.Interestingly, the IRDAI had issued a similar order on July 28, 2017.However, by that order, it had ordered transfer of Sahara India Life's.
While most global equity markets are rising 5-20% in 2023, India is flat
Notably, the index was extremely volatile and swung around 776 points before closing 705 points higher. Nifty50 has been underperforming the emerging markets and the world indices in CY23YTD amid varied global macro headwinds viz., inflation, interest rates, and currency, the report said. While most of the global equity markets are rising.
Indian equity markets to trade in range-bound manner: ICICI Securities
"Indian equity markets overall are likely to trade in a range-bound manner in the near term. From the 10 per cent fall from their peak, the bounce back was sharp with selling pressure at higher levels as well. This trend of buying at lower levels and selling pressure at higher levels is likely to continue in the near term," the report said.
ICICI-Videocon loan fraud case: CBI chargesheets against Kochhar, Dhoot
As of now, the court has not taken cognisance of the matter. The case was first registered on 22.1.2019 against Videocon International Electronics Limited Videocon Industries Limited, Venugopal Nandlal Dhoot, Chanda Kochhar, Deepak Virendra Kochhar, NuPower Renewables Limited, Supreme Energy Private Limited.
Margin recovery highlight of Q3 results: ICICI Securities
"This is post a low of 14.7 per cent margin recorded in the last quarter i.e. Q2FY23. On an aggregate basis (ex-financials), the Nifty topline for Q3FY23 was largely flat QoQ at Rs 13.4 lakh crore with EBITDA up 16 per cent QoQ at Rs 2.3 lakh crore and PAT by 16.6 per cent QoQ at Rs 1.1 lakh crore," the report notes.