-TheWire.in * As of last year, financial institutions from India were the third-largest investors out of six countries financing 80% of the world’s coal investments. * A 2021 report found that ICICI, the State Bank of India, Axis Bank, Trust Group and HDFC were among the fourth-biggest group of financiers of coal-based projects worldwide. * Indian commercial banks’ large-scale investment in Big Infra has exposed the Indian people’s savings and personal investments to...
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ICICI Bank official summoned as COVID orphans face eviction over loan dues -Jagriti Chandra
-The Hindu The National Commission for Protection of Child Rights issues notice to official as bank moves to attach house The National Commission for Protection of Child Rights (NCPCR) has issued summons to a senior official at ICICI Bank as four children stare at the possibility of losing their home over repayment of a loan taken by their parents, both of whom died last year during the second wave of the pandemic. “The...
More »FMCG CEOs flag rural slowdown
-Livemint.com Top packaged consumer goods companies had also flagged slowing rural demand in the December quarter, citing inflationary pressures NEW DELHI: Top honchos of large fast moving consumer goods companies have flagged slowdown in rural demand in the March quarter, citing high inflation across products and commodities. Analysts Manoj Menon, Aniket Sethi, and Karan Bhuwania at brokerage ICICI Securities interviewed chief executive officers of companies such as Marico Ltd., Dabur India, and Tata...
More »SBI, PNB, ICICI, HDFC among 8 top banks witnessing wilful defaults surge -Shayan Ghosh
-Livemint.com * SBI saw total wilful defaults rise by around ₹14,000 crore in the six months to September to ₹58,475 crore *ICICI Bank is the only outlier when seen on a standalone basis, with wilful defaults falling 0.2% Eight of India’s biggest banks have seen a significant jump in wilful defaults in the six months to September, with such loans rising by over ₹37,000 crore to ₹1.5 trillion, shows data on suit-filed accounts...
More »People's Bank of China acquires stake in ICICI Bank
-The Telegraph Move comes amid the standoff between New Delhi and Beijing in Ladakh and Modi govt tightening its rules on FDI from the country Mumbai: The People's Bank of China (PBOC) — the Chinese central bank — is using the portfolio route to pick up stakes in Indian companies amid the standoff between New Delhi and Beijing in Ladakh and the Modi government tightening its rules on foreign direct investment (FDI)...
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