Chanda Kochhar quits ICICI Bank
New Delhi, Oct 4 : ICICI Bank Managing Director Chanda Kochhar has resigned from the bank with immediate effect. The board of the bank has accepted the request of Kochhar to seek early retirement, according to a regulatory filing.
"The board accepted this request with immediate effect. The enquiry instituted by the board will remain unaffected by this and certain benefits will be subject to the outcome of the enquiry," the bank said Thursday.
The board has decided to appoint Sandeep Bakhshi as Managing Director and Chief Executive Officer. His appointment will be for a period of five years until October 3, 2023, subject to various approvals.
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Trump’s fresh threat to bomb Iran amid reports of deal to end war
Washington (PTI): US President Donald Trump on Wednesday threatened Iran with more bombing if it doesn't reopen the Strait of Hormuz, amid a report that the warring sides were nearing an agreement to end the war.
US media outlet Axios reported, quoting US officials and two other sources, that the US and Iran were getting close to a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations.
The US expects Iranian responses on several key points over the next 48 hours, Axios reported, adding that nothing has been agreed yet. This was the closest the parties had been to an agreement since the war began.
"Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective Blockade will allow the Hormuz Strait to be OPEN TO ALL, including Iran," Trump said in a post on Truth Social.
"If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before," Trump said.
According to Axios, the deal would involve Iran committing to a moratorium on nuclear enrichment, the US agreeing to lift its sanctions and release billions in frozen Iranian funds, and both sides lifting restrictions around transit through the Strait of Hormuz.
It said many of the terms laid out in the memo would be contingent on a final agreement being reached, leaving the possibility of renewed war or an extended limbo in which the hot war has stopped, but nothing is truly resolved.
