June 1, 2018 / 4:12 AM / 3 months ago

BUZZ-India's ICICI Bank rises; CEO asked to go on indefinite leave - report

** Shares of ICICI Bank Ltd, the country’s third-largest lender by assets, rise as much as 4.95 pct to 299.95 rupees

** CEO Chanda Kochhar has been asked to proceed on indefinite leave, financial daily Mint reported here

** Decision has been taken on the advice of a majority of the seven independent directors on the bank’s board, Mint added

** ICICI Bank did not immediately respond to Reuters request for comment

** Lender said on Wednesday it will institute an inquiry into the allegations raised by an anonymous whistleblower against Kochhar

** Bank is battling allegations that Kochhar allegedly favoured Videocon Group in its lending practices

** Stock posts its biggest intraday pct gain since May 8; down about 9 pct this year as of Thursday

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