ICICI changed accounting policy to write-off loans: Report
ICICI Bank wrote off â¹5,000-5,600 crore worth unsecured corporate loans in FY17, CEO Chanda Kochhar said in a note in April, according to Livemint. The change in accounting policy that enabled these "technical write-offs" was reportedly cleared by the board in FY18 but never communicated to shareholders. The changed policy reportedly helped ICICI keep bad loan ratios low in FY17.