more-inThe Reserve Bank of India (RBI) has slapped a penalty of ₹58.9 crore on ICICI Bank Limited for non-compliance of directions issued by it. ICICI Bank clarifies:The ICICI Bank has issued a clarification ICICI Bank on regulatory compliance. "ICICI Bank gives utmost importance to regulatory compliance and ensuring compliance with all directives, guidelines and observations by RBI. "RBI has imposed a penalty on the Bank for continued sale of government securities classified as HTM. The Bank would like to re-iterate that it continues to give utmost importance to regulatory compliance and endeavors to meet supervisory expectations", the release said.

Source: The Hindu March 29, 2018 06:36 UTC