Major shakeup in Banking

A major shakeup is going on in the banking sector after the PNB scam came into light. ICICI Bank chief Chanda Kochhar and Axis Bank’s Shikha Sharma have been summoned by the anti-fraud agency, SFIO.
 Major shakeup in Banking
The two ladies have been summoned to know about the Gianjali Group and the loans extended to Mehul Choksi. The agency wants to know about the ways and means of extending the credit to this group.

Ms Kochhar is the chief executive officer of ICICI bank and Ms Sharma, heads Axis Bank.

ICICI Bank led a consortium of 31 banks that lent money to the Gitanjali Group. But some of them say that there was nothing against these ladies and that it was to get some more details pertaining to this abnormal lending.

Some more ICICI executives are on the probe panellist.  On the other hand, the apex court has refused to grant bail to Chidambaram’s son in the case filed by the ED.



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