Governance at stake: a case of ICICI Bank, India

Shilpa Parkhi

International Journal of Process Management and Benchmarking, 2021, vol. 11, issue 5, 693-706

Abstract: Corporate governance determines the allocation of authority and responsibilities by which the business and affairs of an organisation are carried out by its board and senior management. It plays a far more vital role in the institutions which handle public funds. Banks perform a crucial role in the economy by intermediating funds from savers and depositors. The framework of corporate governance deployed in the banks has to be robust and contextually relevant. Present case of ICICI Bank has challenged the existing framework. The MD and CEO of ICICI Bank, Ms. Chanda Kochhar, is alleged to be involved in the non-performing asset deal of Videocon-Nupower without proper disclosure of interest, which resulted in an accusation of nepotism against her. The paper will analyse in detail this case from the perspective of corporate governance failure and suggest new dimensions which need to be incorporated.

Keywords: corporate governance; conflict of interest; nepotism; bank fraud; board duties; fiduciary duty of board; non-performing assets; NPA; India. (search for similar items in EconPapers)
Date: 2021
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