ICICI Lombard’s Post

"Unveiling the ICICI Bank Scandal: Lessons in Transparency and Corporate Governance 🚨" Once upon a time in Mumbai, there was ICICI Bank—a place where people trusted their money to be safe and fair. Leading this bank were Chanda Kochhar, known for her leadership, and her husband Deepak Kochhar, who was also involved in business. Behind the scenes, a secretive deal unfolded. Deepak Kochhar, along with Venugopal Dhoot, a big businessman, devised a plan. Dhoot's company wanted large loans from ICICI Bank. Instead of straightforward transactions, they used a complex web of companies linked to Deepak Kochhar to move money around discreetly. When this scheme came to light, it caused a big stir. Regulators stepped in to investigate because the deal seemed unfair and lacked transparency. This story teaches us a valuable lesson about trust and doing the right thing in finance. Leaders must always act honestly and openly to protect people's trust in banks and financial institutions. Let's learn from these mistakes and work towards a financial system where integrity and transparency are at the forefront. #ICICIBANKSCAM #CORPORATEGOVERNANCE

𝐓𝐡𝐞 𝐈𝐂𝐈𝐂𝐈-𝐕𝐢𝐝𝐞𝐨𝐜𝐨𝐧 𝐬𝐜𝐚𝐦 exposed serious issues in corporate governance! 🚨💸 ICICI Bank’s Chanda Kochhar approved a massive loan to Videocon, and soon after, a company tied to her husband got a big investment from them. Allegations of personal gains and conflict of interest led to her dismissal and legal charges. 𝐖𝐡𝐚𝐭 𝐝𝐨 𝐲𝐨𝐮 𝐭𝐡𝐢𝐧𝐤 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐬𝐜𝐚𝐧𝐝𝐚𝐥? 🤔 #ICICIVideoconScam #FinancialScandal #CorporateGovernance #BankingEthics #ChandaKochhar #ConflictOfInterest #LegalUpdate #BusinessEthics #CorporateLaw #AmicusPublicoLLP

#Take2WithBS | The RBI way of firefighting Is there trouble brewing in India's shadow banking industry? The fact is, the RBI has changed its supervision approach. Having seen two large houses gutted, it is focusing on regular drills to prevent a fire from breaking out, writes Tamal Bandyopadhyay #rbi #financesector #india #finance https://mybs.in/2dUO4XT

Protect yourself and your family's future with ICICI Pru's Protect N Gain #NRIinvestments #IndiaGrowthStory #LifeInsurance #FinancialSecurity #InvestInIndia

Protect yourself and your family's future with ICICI Pru's Protect N Gain #NRIinvestments #IndiaGrowthStory #LifeInsurance #FinancialSecurity #InvestInIndia

ICICI direct Business Partner another organization with no sense of responsibility and partner service. They make new partners and issue partner code for running investment businesses and make their partners spend money in the market to acquire new clients. Now, these partners are promised revenue share and when it actually comes to sharing revenue this company doesn’t make the transfer, but you will get a statement saying the money has been credited. What’s worse? You take this issue up with ICICI Partner grievance team and they take their own sweet time to respond and they ask you to submit all the documents and even after fighting and raising your concern saying you have not received the money, this godforsaken fraud company doesn’t give you a call to resolve the issue. What’s the worst? A few months later, they say they have the right to terminate the partner contract by giving 30 days notice and they send you an email. All your investments in terms of acquiring clients, office expenses rent etc all of sudden becomes a big loss. This is ICICI direct Business Partner service. Cheat and get clients in the name of partnership and they charge a security deposit from you and now God knows if they will even pay it back. This is ICICI direct Business Partner, ladies & Gentlemen. Keep raising voices and fighting till you get justice. Securities and Exchange Board of India (SEBI) ICICI direct Business Partner Narendra Modi

🚨 The Reserve Bank of India takes action against non-compliance by private banks! 🏦💼 After a thorough inspection, RBI imposes penalties on ICICI Bank and Yes Bank for lapses in compliance with regulatory guidelines. 💰 Yes Bank faces a penalty of Rs 91 lakh for charging customers for non-maintenance of minimum balance and operating unauthorized internal accounts. 💸 ICICI Bank incurs a penalty of Rs 1 crore for sanctioning loans without proper due diligence on project viability and monitorability. 📅 These lapses were identified during the statutory inspection for FY22, leading to penalties for non-compliance. #RBI #BankingRegulation #Compliance #ICICIBank #YesBank #FinancialNews #PenaltiesImposed #BankingSector #RegulatoryCompliance

𝐖𝐡𝐲 𝐑𝐁𝐈 𝐢𝐦𝐩𝐨𝐬𝐞𝐝 𝐩𝐞𝐧𝐚𝐥𝐭𝐲 𝐨𝐧 𝐀𝐱𝐢𝐬 𝐁𝐚𝐧𝐤?🏦 🤯 𝙇𝙚𝙩’𝙨 𝙠𝙣𝙤𝙬 𝙩𝙝𝙚 𝙧𝙚𝙖𝙨𝙤𝙣 : ◾️Before some time, RBI inspected the bank, and on scrutiny, it found various violations by the bank: -Failed to preserve records about the customers. -Made persistent calls to some of the customers. -Inappropriate behavior of recovery agents with the borrowers. -Failed to ensure a tape recording of the content/text of the calls made by the recovery agents. 𝘼𝙘𝙘𝙤𝙧𝙙𝙞𝙣𝙜𝙡𝙮, ◾️RBI charged hefty penalty on the bank for non compliance of various directions/guidelines issued by it. 𝘿𝒐 𝒚𝙤𝒖 𝒌𝙣𝒐𝙬, ◾️In the last month, a similar penalty has been imposed on ICICI and Kotak Mahindra Bank by RBI. ---------------------------------------------------------------------------------- Follow Kritika Jain for more such content 💛 If you liked it, repost.✔ #linkedin #investing #finance

[Case Study] How HDFC Bank handles 750 million transactions per month with Keda and Dapr https://lnkd.in/djZHdmSG #CloudNative #Microservices #HDFCBank #Dapr #GovernorApplication #UPItransactions #ThrottlingTrafficRequests #Kubernetes #CustomerEngagement #FinancialServices

Dear Bank of Baroda, Somehow I am left with this only option to draw your attention on this forum towards your staff setting an example of incompetence and customer harassments by your employees at Delhi Karol Bagh Branch. I have an running Auto-loan account with your bank since past two years. From past couple of months I have been levied with penal interest in my statement. My EMI's are being timely paid off and the same is acknowledged by your concerned staff as well. The staff has offered me reasoning for a revised RBI policy. Ideally it makes no sense that the RBI issues instruction to levy penal interest without any reason. I have also requested the team to share the said policy and the same is never shared with me. The staff has marked these penal interest as default payments and it has adversely impacted by CIBIL score. Further in addition, a recovery officer also made a visit to my residential premises. On obtaining understanding of my case, he connected me with your Branch Receiving Manager (BRM). The BRM had no explanation on this case and on my repeated request he shared me his INCORRECT mail handle. The details of the entire incident along with name and contact number of BRM with relevant video proof's have been shared on mail via my registered mail handle "[email protected]". Since past one month, I have raised multiple mail follow ups, though unfortunately there's not even a single reply from your team. Rather the team is continuously avoiding mails/ calls or sharing incorrect mail handle. Doesn't it shows the incompetence and willingness of your grievance cell?? Hon'ble Reserve Bank of India (RBI), the entire case has been reported with your CRPC wing (Complaint no. : N202425023182142). CRPC have also been marked in cc in all such mail communications. Erroneous reporting in CIBIL as well as sending recovery team with out any proper redressal should be considered equivalent to defamation of persons societal image. I humbly request for your immediate intervention in the concerned matter and ensuring justice. #bankofbaroda #bob #rbi #crpc_rbi #toi #economictimes #financialexpress #ht_mint