Subhiksha has not paid salaries, government toldJuly 27th, 2009 NEW DELHI - The government Monday said it has received a complaint that retail chain Subhiksha had not paid salaries to its employees for the past three months and that outlets were closed without them being informed. "Anil Kumar, an ex-employee of the company, has made a complaint alleging non-payment of salary for three months and closure of all units without any communication from the management," said Corporate Affairs Minister Salman Khurshid in the Rajya Sabha in a written reply.
ICICI Bank cuts lending rates by half a percentJune 4th, 2009 MUMBAI - India's largest private sector lender ICICI Bank has cut the floating reference rate (FRR) by 50 basis points, including the floating home loan rate, the company announced Thursday. The revised FRR will be 12.75 percent as against 13.25 annually, the bank said in a regulatory statement.
ICICI Bank's Kamath joins Infosys as directorMay 2nd, 2009 BANGALORE - Infosys Technologies Ltd appointed K.V. Kamath, non-executive chairman of ICICI Bank, as an additional director to its board, the IT bellwether said Saturday.
India's ICICI bank quarterly profit down 35 pct on low fee income, braces for more bad loansApril 25th, 2009 India's ICICI bank quarterly profit down 35 pctMUMBAI, India — ICICI Bank Ltd., India's largest private bank, said Saturday that its quarterly profit slid over 35 percent as the global financial crisis eroded fee income in commercial and retail banking. The bank said it was also bracing itself for rising bad loans by increasing provisions.
Shikha Sharma new managing director of Axis BankApril 20th, 2009 MUMBAI - Axis Bank Ltd Monday said it has appointed Shikha Sharma as the bank's managing director and chief executive for the next five years. Sharma, currently chief of ICICI group's life insurance business, will replace Axis Bank's present chief executive P.J.
Shikha Sharma new managing director of Axis BankApril 20th, 2009 MUMBAI - Axis Bank Ltd Monday said it has appointed Shikha Sharma as the bank's managing director and chief executive for the next five years. Sharma, currently chief of ICICI group's life insurance business, will replace Axis Bank's present chief executive P.J.
ICICI Bank urges government to unveil borrowing plansApril 4th, 2009 KOLKATA - India's largest private lender ICICI Bank Saturday urged the government to spell out 'how it plans to manage its borrowings'. 'There are concerns on the impact the government borrowings will have on liquidity, pushing up interest rates,' K.V.
ICICI Securities launches offline trading platform in KochiMarch 25th, 2009 KOCHI - ICICI Securities Wednesday launched active trader service (ATS), an offline trading platform, in Kochi. The ATS offers specialised research and personalised services with the aid of latest technology and infrastructure to active traders.
ICICI Prudential to consolidate business in KeralaMarch 19th, 2009 THIRUVANANTHAPURAM - Private life insurer ICICI Prudential Life is focussing on consolidating business in Kerala rather than going for major expansion, a top official said here Wednesday. In the first 11 months this fiscal, the company's business has crossed Rs.4.05 billion (Rs.405 crore), ICICI Prudential vice-president K.S.
If needed, I am willing to quit: Subhiksha chiefFebruary 26th, 2009 CHENNAI - R. Subramanian, managing director of the troubled retail chain Subhiksha, Wednesday said he was ready to quit if it would help in reviving the company.
ICICI stake sale not discussed by board: SubhikshaFebruary 25th, 2009 CHENNAI - The decision of private equity fund ICICI Venture, a minority shareholder in Subhiksha Trading Services, to sell 10 percent stake in the retail chain had not been discussed at Subhiksha's board meetings. 'We understand that for various compelling reasons of the financial investor (ICICI Venture), we were clearly told that we had no choice on taking the money.
First digital Lok Adalat to be held in Delhi SundayFebruary 6th, 2009 NEW DELHI - India's first digital Lok Adalat, which will be completely paperless, will be held here Sunday to try civil and criminal cases related to ICICI Bank, an official said. 'In this Lok Adalat, both criminal cases and civil suits would be taken up.
Subhiksha chief: We mucked upFebruary 4th, 2009 CHENNAI - The Rs.23.05-billion (Rs.2,305-crore) retail chain Subhiksha Trading Services says its reserves have dwindled to 'nearly nil' and that it has 'mucked up'. The chain, which is into retailing grocery products, mobile phones, medicines, fruit and vegetables with plans to get into consumer durables, believes a fresh infusion of Rs.3 billion (Rs.300 crore) would help it get back on track.
ICICI Bank posts 50 percent growth in CanadaDecember 31st, 2008 TORONTO - Defying market trends, ICICI Bank posted 50 per cent growth in Canada in 2008, crossing $ 6 billion in assets. Rated as one of the best foreign banks operating in Canada, ICICI Bank (Canada) is a 100 per cent subsidiary of the parent bank in India.
ICICI Bank, LIC Housing cut home loan ratesDecember 30th, 2008 MUMBAI - Two more lending institutions - ICICI Bank and LIC Housing - Wednesday cut their interest rates on home loans by up to 75 basis points (bps). While LIC Housing Finance cut rates for existing home loan borrowers by 75 bps effective Thursday, ICICI cut rates by 50 bps with immediate effect.
Loading ...