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Chanda Kochhar must step down

Friday, June 01, 2018

It is better late than never and ICCI board has taken the right step by ordering a probe against its MD & CEO Chanda Kochhar as the bank is in the news for all the wrong reasons which has wiped out its market cap to peanuts from its one time high net worth. However, one fails to understand how a fair probe can be conducted with Chanda Kochhar still at the helm and the board should ask her to step down temporarily till the investigation reports are submitted to the board.

Dubious transactions involving Chanda Kochhar's husband having some links with ICICI Bank are in public domain which needs probe, which is the reason why an investigation has been ordered. Chanda Kochar has no business to head the bank she represents and should resign till her name is cleared in the controversy. Accountability is missing in most Indian banks which is the reason why NPAs and bad loans are on the rise.
      — S.N. Kabra, Goregaon

 

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