The chief executive of one of India's largest banks, and a rare woman at the top of male-dominated corporate India, resigned on Thursday amid a favouritism probe. ICICI - India's second-largest private bank by assets - said in a statement that Chanda Kochhar was immediately stepping down as CEO. She has been the subject of an investigation over a conflict of interests, facing charges that she favoured loans to a company linked to her husband.
"The board of directors... accepted the request of Ms Chanda Kochhar to seek early retirement from the Bank at the earliest. "The Board accepted this request with immediate effect," ICICI said in a filing to the Bombay Stock Exchange.