MUMBAI: In its first comments on the Chanda Kochhar affair involving allegations impropriety whilst heading ICICI Bank, the Reserve Bank on Thursday said it is for the regulation enforcement companies to take an motion in the case.
The position of the regulator is limited to having a look at the violations of its laws through individuals or teams, and act on the identical, governor Shaktikanta Das said.
"If there are certain things which require investigation, that is in the domain of the investigating agencies and it's for them to take further action," he instructed reporters all over the commonplace post-policy press convention.
He was once replying to a specific query on how the banking regulator appears at the tendencies at the ICICI Bank, the place an unbiased enquiry constituted through the lender has found Kochhar in charge of misconduct.
A couple of days prior to her virtual expulsion, the CBI filed an FIR naming Kochhar and others in the alleged quid professional quo in extending a Rs 3,250-crore mortgage to the Videocon Group.
Amid raging controversy over the case, Kochhar - also a Padma Bhushan awardee and the first lady to head a bank in the country way back in 2009--quit the bank in October final 12 months months after the lender had given a clean chit to her.
The unbiased probe panel headed through retired Supreme Court pass judgement on BN Srikrishna has noticed that Kochhar violated bank policies and other regulations and laws.
There were allegations of involvement of Kochhar and her members of the family in a mortgage equipped to the Videocon team on a quid professional quo basis. It was once alleged that the Videocon Group pumped money into NuPower Renewables, a company now owned through Deepak Kochhar, husband of Chanda Kochhar.
The allegation of struggle of hobby was once levelled through whistle blower Arvind Gupta.
Interestingly, there are media studies announcing the RBI had given her a clean chit in 2016 itself, when the allegations first surfaced.
Following the Srikrishna panel report, the bank said it might not deal with her leaving the bank as retirement however a termination of her carrier and likewise decided to claw back the round Rs 10 crore bonus paid to her between 2009 and March 2018 along with blockading her with reference to Rs 340 crore of Esops- both a first in the country. She is reportedly planning a felony problem to both punitive movements.
The position of the regulator is limited to having a look at the violations of its laws through individuals or teams, and act on the identical, governor Shaktikanta Das said.
"If there are certain things which require investigation, that is in the domain of the investigating agencies and it's for them to take further action," he instructed reporters all over the commonplace post-policy press convention.
He was once replying to a specific query on how the banking regulator appears at the tendencies at the ICICI Bank, the place an unbiased enquiry constituted through the lender has found Kochhar in charge of misconduct.
A couple of days prior to her virtual expulsion, the CBI filed an FIR naming Kochhar and others in the alleged quid professional quo in extending a Rs 3,250-crore mortgage to the Videocon Group.
Amid raging controversy over the case, Kochhar - also a Padma Bhushan awardee and the first lady to head a bank in the country way back in 2009--quit the bank in October final 12 months months after the lender had given a clean chit to her.
The unbiased probe panel headed through retired Supreme Court pass judgement on BN Srikrishna has noticed that Kochhar violated bank policies and other regulations and laws.
There were allegations of involvement of Kochhar and her members of the family in a mortgage equipped to the Videocon team on a quid professional quo basis. It was once alleged that the Videocon Group pumped money into NuPower Renewables, a company now owned through Deepak Kochhar, husband of Chanda Kochhar.
The allegation of struggle of hobby was once levelled through whistle blower Arvind Gupta.
Interestingly, there are media studies announcing the RBI had given her a clean chit in 2016 itself, when the allegations first surfaced.
Following the Srikrishna panel report, the bank said it might not deal with her leaving the bank as retirement however a termination of her carrier and likewise decided to claw back the round Rs 10 crore bonus paid to her between 2009 and March 2018 along with blockading her with reference to Rs 340 crore of Esops- both a first in the country. She is reportedly planning a felony problem to both punitive movements.
Chanda Kochhar case: What RBI has to say
![Chanda Kochhar case: What RBI has to say]()
Reviewed by Kailash
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February 08, 2019
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