If ICICI Bank was just part of a Rs 40,000 crore loan extended to Videocon by a consortium of 20 banks, then why is the focus just on ICICI Bank? Was it the lead bank in the consortium, and was Ms. Kochchar the key decision maker on behalf of ICICI Bank where this decision was concerned?
While the jury is still out, as to whether or not there was a conflict of interest while extending loans to Videocon group is concerned, one wonders if a key business practice adopted by various banks, that is of strong relationship management with most of their important customers would now stand compromised, lest any such account turn NPA later on and fingers be pointed even in bonafide cases?
