Did ICICI Bank inflate profits, breach NPA rules?4 min read . Updated: 25 Jun 2018, 08:36 AM IST
The latest whistleblower complaint has alleged ICICI Bank inflated profits by at least $1.3 billion over eight years by delaying provisioning for NPAs
Mumbai: ICICI Bank Ltd has not satisfactorily answered two serious allegations made by a whistleblower—that the bank inflated profits by at least $1.3 billion over eight years by delaying provisioning for bad loans, and that top executives, including CEO Chanda Kochhar and executive director Vijay Chandok, wilfully breached rules to avoid classifying the loans as bad.
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