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What do you think was main issue behind the ICICI Bank governance failure?

1. What do you think was main issue behind the ICICI Bank governance failure? (5 marks)
2. Do you think the initial response by the ICICI board of directors was adequate? (5 marks)
3. What is your opinion of the regulatory bodies’ reactions to the allegations made by
Arvind Gupta? (5 marks)
4. What governance improvements can ICICI Bank make to prevent similar situations in the
future? (5 marks)

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