ICICI Bank Ltd.

ICICI Bank has decided to raise Rs 50,000 crore through private placement of securities including bonds and non-convertible debentures (NCDs). In this regards, the bank is seeking the approval by the shareholders for its fund-raising plans at the AGM, which is due to be held on June 29.

Meanwhile, the Reserve Bank of India (RBI) gave a nod to the banks to take control of debt-laden companies by existing debt into equity, if a debt restructuring fails to revive them within a timeframe.

The bank posted a rise of 10.18% in its net profit at Rs 2922.00 crore for the quarter ended March 31, 2015 as compared to Rs 2652.01 crore for the same quarter in the previous year. Total income of the bank increased by 12.23% at Rs 16234.73 crore for quarter under review as compared to Rs 14465.34 crore for the quarter ended March 31, 2014.