ICICI Bank reviews credit approval process, expresses full faith in Kochhar

Country's largest private lender ICICI Bank on Wednesday said that no individual employee, whatever may be his or her position, has the ability to influence decision at the bank.

The bank said that its share of banking sector's exposure to Videocon Group was less than 10% and that it was not lead bank to consortium that had lent to Videocon.

The bank said it sanctioned is share of facilities of about Rs 32.5 billion.

"There is no question of any quid pro quo/ nepotism/ conflict of interest as is being alleged in various rumours," the bank said.

None of the investors of Nupower Renewables are borrowers of the bank, said ICICI Bank.

The bank added in its statement that, "Board has full confidence and reposes full faith in MD & CEO Chanda Kochhar."

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