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Financials

India's ICICI Bank to treat Kochhar's exit as 'termination for cause'

Jan 30 (Reuters) - ICICI Bank Ltd said on Wednesday it would treat former Chief Executive Chanda Kochhar’s exit from the bank as a “termination for cause” after an enquiry report ruled that she had violated internal bank policies.

Kochhar resigned in October after being mired in allegations that she favoured Videocon Group, a consumer electronics and oil and gas exploration company, in the bank’s lending practices. (Reporting by Chris Thomas in Bengaluru, Editing by Sherry Jacob-Phillips)

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