ICICI bank found violation of internal code of conduct by Chanda Kochhar. She was known for establishing framework of retail banking in India.
Board of directors now decided to move ahead for separation of Chanda Kochhar.
Bank took their stand for separation on the basis of B N Srikrishna report, and now bank in process to recover Bonus and other allowances which were given to Kocchar during 2009 to 2018.
Kocchar expressed surprise of the decision and said that decisions on loans are just not a single person job, there is process and framework for loan. She also added that she given 34 years serving the bank and this is painful.