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India's top female banker resigns amid loan investigation

ICICI Bank's Kochhar was questioned over controversy related to husband

Chanda Kochhar attends a news conference in March. She later went on indefinite leave as CEO of ICICI Bank, one of India's largest private lenders.   © Chanda Kochhar

MUMBAI -- The head of one of India's largest private-sector banks and a prominent woman in the country's financial sector has stepped down after nearly 10 years at the helm, amid an ongoing investigation into an alleged conflict of interest involving a corporate loan.

ICICI Bank managing director and CEO Chanda Kochhar retires from the bank effective immediately, the bank told Indian stock exchanges on Oct. 4. Kochhar's term was due to end in March 2019, but she was on leave since June because of the pending investigations.

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