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Bombay HC: Prima facie removal of Kochhar as ICICI Bank CEO valid

In the order the Judge said that the bank was justified in revoking acceptance of early retirement of Kochhar as they had accepted it without having complete knowledge of the facts

ICICIdirect acquires investor community-based networking platform Multipie

Investment platform ICICIdirect on Wednesday said it has acquired Multipie, a web and app-based networking platform for the investor community, that allows its users to exchange ideas and share views

ICICI Pru on course to hit new business value of Rs 2,560 crore in FY23

Private insurer ICICI Prudential Life has said it is on course to meet its target of doubling the value of new business to Rs 2,560 crore this fiscal from FY19 levels. The optimism of the management to meet the target it had set for itself in the beginning of FY19, when the Value of its New Business (VNB) stood at Rs 1,328 crore, stems from the much more than anticipated VNB growth clocked in the first quarter at Rs 471 crore, which was 31.7 per cent higher than the year-ago period when it was only Rs 358 crore. VNB is a key profitability metric in the life insurance industry as life insurance is a long-term business unlike general insurance which is a year-long commitment. So, VNB means the future profit of a life policy written now. Higher the VNB margin the better will be the profitability of a company. This is calculated by dividing the VNB by annualised premium equivalent or regular premium plus 10 per cent of the single premium. Having already grown so much in the first quarte

ICICI Ventures' fund offloads Go Fashion shares worth Rs 190 crore

India Advantage Fund S4 I on Thursday offloaded 18.11 lakh shares of Go Fashion (India) Ltd, which owns women's clothing brand Go Colors, for Rs 190 crore through an open market transaction.

ICICI Prudential Life Insurance eyes 22% growth in VNB this fiscal

It had nearly trebled the net income in the March quarter on the back of robust margin growth from new sales

ICICI group's insurance arms to focus on technology, newer sales channels

The company in future plans to focus on retail segment and build a 'plug and play' system for their partners

ICICI receives complaints about 31 loan accounts from anonymous complainant

The statutory auditors were provided periodic updates and their inputs were factored into the enquiry process.

ICICI group firm picks up stake in e-commerce firm Infibeam for Rs 11 cr

1 lakh shares of the Ahmedabad-based firm were bought via open market transactions