ICICI Bank shares face a huge tremor. A drop of 7% in the price of the share has been seen. This was mainly after the report of the media which stated that there is police investigation going on in the process of lending in ICICI Bank.
The details stated that a police inquiry was launched in the name of Deepak Kochhar the husband of Chanda Kochhar, CEO ICICI. This also had affected the ICICI Officials and Videocon as well.
All this have seemed to put ICICI Bank in huge problems as this led to a fine of 589 million rupees on the same by RBI. The fine was mainly for not going by the rules that were thus laid down by RBI. This fine ultimately has not done any negative impact on the earning capacity of the bank but then again it was seen that the sentiments of the other banks were hurt in this regard. The reason being them following the rule properly as asked by RBI. Lastly, the IDFC Securities also issued a same kind of notice to its consumers regarding the same which also gave a negative review of the consumers.