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ICICI Bank drops 2% on probe against Chanda Kochhar

ICICI Bank crashed 2% on Thursday after the board ordered an independent probe against its CEO Chanda Kochhar.
The inquiry, including a forensic audit, will look into a whistle blower’s allegations of violations of the bank’s code of conduct, rules on conflict of interest and any impropriety involving quid pro quo dealings with certain borrowers.
The stock fell 1.72% to hit a low of Rs 380.35 on the BSE this morning.

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