Reserve Bank steps up ICICI Bank probe after whistleblower complaints, says report
Updated : June 26, 2018 09:48 AM IST
The Reserve Bank of India (RBI) initiated a second probe into the affairs of ICICI Bank on March 25 within days after the whistleblower complaint for allegedly delaying provisioning for stressed loans, among other malpractices, Mint reported.
The first probe by the central bank was initiated in 2016 after another whistleblower alleged a conflict of interest in Chanda Kochhar, the chief executive of the bank's, dealings and had concluded that the allegation “could not be conclusively established.”
Kochhar is currently on indefinite leave till the probe proceedings end.