ICICI TO GIVE DETAILS OF OVER 1,000 LOANS

NEW DELHI: ICICI Bank Ltd is preparing to submit details of at least 1,000 loan accounts that turned sour since April 2010 to an independent panel, as part of a board-instituted probe into alleged wrongdoings by the lender’s top executives.

ICICI Bank’s risk department has asked its loan divisions to provide details of all loan accounts that have become non-performing since April 2010

A majority of the NPA accounts belong to firms that got loans through ICICI Bank’s SME loans division

The loan departments have been asked to submit details including sanction notes, dates of default and the amounts in the accounts

The details will be shared with the B.N. Srikrishna panel to assist the board-instituted probe into alleged wrongdoings by the bank’s top executives

A whistleblower has alleged that ICICI Bank’s top executives, including CEO Chanda Kochhar and executive director Vijay Chandok, wilfully breached rules to avoid classifying some loans as bad