05/04/2021 | Press release | Distributed by Public on 05/04/2021 04:11

ICICI Bank Limited (the ‘Bank’) Report on Form 6-K

ICICI Bank Limited (the 'Bank') Report on Form 6-K

The Bank has made the below announcement to the Indian exchanges.

The Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of ₹ 3 Crores on the Bank . This penalty has been imposed under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) of the Banking Regulation Act, 1949 for shifting certain investments from HTM category to AFS category in May 2017. The Bank had transferred two separate categories of securities on two different dates from HTM to AFS in April and May of 2017, which it believed was permissible as per Master Circular on Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks' dated July 01, 2015. RBI has held that the shifting of securities the second time in May 2017 without explicit permission was in contravention of RBI directions.

Please take the above information on record and consider this as compliance under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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