Dear ICICI Bank board, giving a red card to Chanda Kochhar is not enough
Rather than defending the interests of shareholders, the ICICI Bank board has rushed to exonerate CEO Chanda Kochhar. It has dragged its feet in ordering an inquiry
The reaction of the ICICI Bank Ltd’s stock doesn’t seem to reflect much confidence that the lender’s troubles are behind it, even after chief executive Chanda Kochhar goes on leave pending the inquiry against her. The stock hasn’t gone anywhere near its recent high of around ₹ 310 seen in mid-May.