SEBI Issues Warning Letter to ICICI Bank Over Foreign Portfolio Investor Repatriation Issue
SEBI has issued a warning letter to ICICI Bank Limited concerning the repatriation of funds by a Foreign Portfolio Investor (FPI). The bank was involved as the Custodian in the transaction.The regulatory action follows the permission granted for an FPI to repatriate funds prior to the completion of the committed retention period under the Voluntary Retention Route. This action was noted as being in violation of the Reserve Bank of India Master Direction dated January 7, 2025 and SEBI (Foreign Portfolio Investors) Regulations, 2019.
ICICI Bank Limited stated that the incident had no material impact on its financial operations or other activities. Furthermore, the bank mentioned an internal delay which prevented the submission of the disclosure within the prescribed timeline.
ICICIBANK Stock Price Movement
Today, shares of ICICI Bank Limited edged higher in the post-market session, closing at ₹1251.7 after gaining 0.89%. The stock traded with a total volume of 19.46 million shares as the market closed.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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