The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹3 crores on ICICI Bank for non-compliance with its directions in the matter of shifting of securities from one category to another. The monetary penalty has been imposed on the Bank for contravention of certain directions contained in its Master Circular on ‘Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks.’
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
This penalty has been imposed in exercise of powers vested in RBI under the provisions of the Banking Regulation Act, 1949 (the Act). RBI observed that an examination of correspondence in the matter of shifting of securities from one category to another revealed, inter alia, contravention of the aforesaid directions issued by it. This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
Important takeaways for all competitive exams:
Jammu and Kashmir is a beautiful region in northern India known for its snow-covered mountains,…
Balochistan, the largest and resource-rich yet least developed province of Pakistan, has long been a…
In 2025, some of the world's top athletes are earning huge amounts of money through…
India delivered a stellar performance at the Archery World Cup Stage 2 held in Shanghai,…
In a significant push towards self-reliance in semiconductor manufacturing, the Union Cabinet has approved a…
In a significant move to accelerate its clean energy transition, the Government of India has…