India’s largest private sector lender ICICI Bank said another whistle-blower had accused it of having lax controls over operations. This is the third instance of such complaint. In the first two complaints, the bank’s Managing Director and Chief Executive Officer Chanda Kochhar is facing an inquiry by the board and is on leave till investigations are over. The latest complaint relates to the incorrect asset classification of 31 loan accounts, and alleges that interest income and recoveries from non-performing assets (NPA) have been accounted as fees.
It also alleges that the bank overstated the value of mortgages offered for
It also alleges that the bank overstated the value of mortgages offered for