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Enforcement Directorate raids Chanda Kochhar’s residence

The Enforcement Directorate raided beleagured ex MD & CEO Chanda Kochhar’s residence and offices on Friday morning in connection with the loan fraud case. The CBI had previously found evidence that loans worth 1,875 crore ₹ had been been sanctioned by ICICI against its policies to Videocon group and taking cognisance of this, the ED has searched the premises of Chanda Kochhar. GDP for the 3rd quarter ended December slowed to a six quarter low of 6.6%. In response to this, GDP growth figures for the whole year was revised downwards from 7.2% to 7%, which is the lowest in 5 years. Amid escalating tensions, Pakistan has banned the release of Indian films. However, this move could end up hurting Pakistan more than India as Indian films make up most of the content on Pakistani screens, while Pakistan accounts for just 1.2% of international box office collections for Bollywood.

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