The suspense over Chanda Kochhar's resignation still stands as the ICICI Bank board has been waiting for a confirmation from the Reserve Bank of India before deciding anything. However, few reports surfaced claiming that the ICICI CEO for now would remain in her position amidst the Videocon loan controversy. 

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On Tuesday, a PTI report quoted a Finance Ministry source as saying that it is for the Reserve Bank or ICICI Bank board to decide if bank CEO and Managing Director Chanda Kochhar, who is facing allegations of nepotism, should continue at the post. 

The Finance Ministry is of the view that it is not their role to look into the affairs of private lender ICICI Bank but the RBI as a regulator could look at allegations heaped against Kochhar, sources in the Finance Ministry said.

It is for the RBI to decide if Kochhar should continue to be the CEO and Managing Director of the bank, they said, adding the regulator or ICICI Bank board is competent to take a decision on continuation of the incumbent CEO in the office.

There are allegations of nepotism against Kochhar putting a question mark on the bank's corporate governance.

Earlier, there were reports of that the ICICI bank board has been reportedly divided over whether to ask Chanda Kochhar to step down as CBI probes her own role, her husband's and brother-in-law allegedly involvement over loans made to Videocon group. 

According to an NDTV report, there are some outside directors who are of view that Chanda Kochhar should not be allowed to countinue her role as ICICI's MD and CEO.

It is also to be noted that that not just long ago, when the entire controversy came in public, the ICICI board expressed its full faith in Chanda Kochhar. 

The board said that it has full faith and confidence in her and described certain reports against her regarding credit disbursement to Videocon group as "malicious and unfounded rumours".

ICICI Bank board also reviewed the bank's internal processes for credit approval and found them robust, the private sector lender said in a regulatory filing. 

The statement came after certain reports appeared on a website alleging involvement of Chanda Kochhar and her family members in a loan provided to Videocon group on quid pro quo basis. It was also pointed out that a complaint had been forwarded to Prime Minister Narendra Modi and others for necessary action against Chanda Kochhar.