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  • Category: Miscellaneous

    Will you support CEO Chanda Kochhar?

    There have been allegations about the dealings with Videocon group and her husband Deepak Kochhar. Recently ICICI Bank Board has given loans worth Rs 3200 crore to Videocon group and there have been serious allegations against her conflict of interest with the Videocon group. CBI is questioning her husband about the business dealings happened between the family of Kochaar and Videocon group. What to do with such High profile CEOs?. Will ICICI Bank Board replaces Chanda Kochaar? What steps do they need to reform the banking system in India?
  • #632794
    Today I have read in the newspaper that she has resigned. By resigning, she can't go free. The CBI should inquire into the deal and get the facts out. The dealings between the Videocon group and her family is not very clear and some inside dealings may be there. But the fact has to come out after the CBI inquiry. This incident is giving a doubt about the big private banks and people are becoming clueless regarding the safety of their money in banks.
    In olden days in villages, some financiers were taking money from the villagers at a high rate of interest. Then they were giving the money to the needy for a very high rate of interest. These people after some period of time used to go bankrupt. The investors were not getting their original amount even. Those days people used to think keeping money in banks is safe. But now even that confidence has gone.

    always confident

  • #632829
    In Telugu when Ramdasu was arrested for utilizing Nizam funds to make Lord Rama's jewels, he feels sad and sings a song and one particular stanza, he says Evadabba sommani nuvu kulukuthunnavu.... means whose jewel and who the hell is enjoying, pointing at Lord Ram for not helping him to bail out from arrest. Like wise Kochhar husband brokered for 3200 crores loan from Chanda Kochhar and thus ICICI has to face the tune now. So whose money these so called banks are giving away the loans as if there is no one to question them either now or never. All the banks need to be scrutinized for high end loans.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #632940
    Just yesterday, I replied to a thread that the banking frauds are far from over. If you recollect a simple contest from a TV or a soft drink companies, one of the exclusions would be 'employees and their families are not allowed to participate due to conflict of interest'. Reputed healthcare experts, when they give a talk, they first mention their conflict of interest, Even the share calls given by experts have to declare their conflict of interests. When such in the case, how can the CEO of a big bank give a big loan to the tune of Rs 3,200 crores.

    I strongly feel, before we reform the system, all the banks should be scrutinised by national external auditors as a matter of extreme urgency and all the attests of the companies and people with outstanding loans should be seized. A new law has to be approved by all the parties to immediately seize their passports and personal treasures including overseas bank accounts. When India does this on a war footing, then the burden on the tax payer would be more easier.

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