ICICI Bank has topped the list of banks with maximum number of employees on whom action has been taken in the last three years for involvement in frauds. In the last three years, action has been taken against 13,949 bank officials belonging to 60 PSU banks and private banks.
ICICI Bank officials alone account for 2,236 or 16% (one-sixth) of the total such cases, Minister of State for Finance Shiv Pratap Shukla told the Rajya Sabha in a written reply on Tuesday. In each of these three years, 2015, 2016 and 2017, the number of ICICI Bank officials against whom the action has been taken was in the range of over 600 to under 900.
Meanwhile, during the same period the total number of all bank officials acted upon for fraud registered a steady decline. The total number of bank officials against whom the action was taken for fraud was 5,785 in 2015; but fell 20% next year to 4,360 in 2016; and dropped further 13% to 3,804 officials in 2017.
However, during the same period, the number of ICICI Bank officials involved in fraud cases against whom the action was taken was 732 in 2015; then it fell 15% to 625 in 2016; but then rose 40% to 879 in 2017.
ICICI Bank is recovering from a jolt of controversy and charges involving its topmost executive. It recently suffered a huge dent to its image because of the alleged involvement of its former Managing Director and CEO Chanda Kochhar in cases of conflict of interest involving her family members and Venugopal Dhoot led Videocon group.
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