The country's second largest private sector lender ICICI Bank has decided to reward over 80,000 of its frontline employees with a salary hike of up to 8 per cent, sources said on Tuesday.
Several ICICI Bank employees have taken to social media to voice their concern alleging the bank has asked them to report to base location or face consequences.
As part of the tie up, ICICI Bank is offering flexi EMI scheme which enables customers to pay low EMI initially, in order to help them overcome the liquidity stress due to the COVID-19 pandemic.
The bank had posted a net profit of Rs 969 crore in the corresponding January-March period of 2018-19.
In view of the coronavirus lockdown amid a rapid surge in positive cases, the ICICI Bank on Thursday announced to launch mobile ATM services in Tamil Nadu
ICICI Bank on Monday said it has launched voice assistance-based banking services for its customers and they can check balance, seek credit card details as well as ask other queries among others through this application.
Bank shares on Friday dropped up to 15 per cent after Moody''s Investors Service changed the outlook for Indian banking system to negative from stable.
In a massive relief for borrowers, several public sector banks - SBI Bank, PNB, Union Bank and private lenders - HDFC, ICICI Bank, announced 3-month moratorium on term loans, ruling in the directions by the Reserve Bank of India.
Private sector lender ICICI Bank on Wednesday cut interest rates on savings accounts by 25 basis points for deposits up to Rs 2 crore. The new rates will be effective from April 8, ICICI Bank said in a regulatory filing. Savings bank accounts with deposits up to Rs 50 lakh will earn 3.25 per cent interest as against existing 3.5 per cent.
ICICI Bank is offering its customers option-based deferment of EMI payments on term loans for the next three months, on directions by the Reserve Bank of India (RBI). Some ICICI Bank customers will automatically be allowed a moratorium but can opt out if they wish to, while others will have to specifically ask for a deferment.
Private sector banks HDFC and ICICI have asked customers to use digital means for transactions and said they have reduced their staff in office as a precautionary measure against the spread of coronavirus.
ICICI approves Rs. 1,000 crore investment in Yes Bank. Shares of Yes Bank on Friday rose by 2 per cent after State Bank of India (SBI) said it will infuse Rs 7,250 crore into the crippled private sector lender. The stock surged 9.98 per cent to Rs 27.55 on BSE in day trade before closing at Rs 25.55, showing gains of 2 per cent
The Bombay High Court on Thursday dismissed a petition filed by Chanda Kochhar against her termination as managing director and CEO of the ICICI Bank, noting the dispute arises from a contract of personal service.
Chanda Kochhar's counsel Vikram Nankani earlier argued that her termination came months after the bank approved her voluntary resignation on October 5, 2018 and therefore, the termination is "illegal, untenable, and unsustainable in law".
Top gainers in the Sensex pack included ICICI Bank, HCL Tech, Reliance Industries, TCS, ONGC, Titan and Infosys, rising up to 3 per cent. On the other hand, Kotak Bank, M&M and Tech Mahindra were in the red.
Business conglomerate Adani group has won a bid to acquire Aditya Estates Pvt Ltd, which holds a posh 3.4 acre residential property near Mandi House in the heart of the national capital, through an insolvency process for a total deal value of Rs 400 crore.
ICICI Bank on Monday said it has raised Rs 945 crore by issuing Basel III compliant bonds on private placement basis.
Asian markets traded higher on Tuesday after a recovery in Chinese stock markets. Shanghai Composite Index fell over 8 per cent on Monday. Investors reacted to the Coronavirus related deaths which has crossed 400 in China.
Seven of the 10 most valued companies suffered a combined loss of Rs 1.89 lakh crore in market valuation last week, led by Reliance Industries which alone took a hit of Rs 87,732.8 crore.
The BSE Sensex plummeted 988 points on Saturday to close below the key 40,000-mark, led by an intense broad-based selloff after the Union Budget for 2020-21 failed to live up to market expectations.
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