RegulatoryJun 4, 2026, 04:12 PM
ICICI Bank receives SEBI warning for FPI fund repatriation violation
AI Summary
ICICI Bank Limited received a warning letter from the Securities and Exchange Board of India (SEBI) on June 1, 2026. The warning was issued because the bank, acting as a Custodian, allowed a Foreign Portfolio Investor (FPI) to repatriate funds before the completion of the committed retention period, violating RBI and SEBI regulations. The bank stated that this event has no material impact on its financial, operational, or other activities, and the disclosure was delayed due to an inadvertent internal issue.
Key Highlights
- SEBI issued a warning letter to ICICI Bank on June 1, 2026.
- The warning is for permitting a Foreign Portfolio Investor (FPI) to repatriate funds early.
- This violated Reserve Bank of India Master Direction and SEBI (FPI) Regulations, 2019.
- ICICI Bank states there is no material impact on its financial, operations, or other activities.
- The disclosure was delayed due to an inadvertent internal delay.
Price Impact
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