Skip to content
Brand AI

ICICI Bank

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

Back to profile2 entries

  1. 2021

    RBI fines ICICI Bank Rs 3 crore for regulatory non-compliance

    Fine or penalty

    The Reserve Bank of India imposed a Rs 3 crore penalty on ICICI Bank for violating directions on the classification, valuation and operation of banks’ investment portfolios. The regulator said the penalty followed deficiencies in regulatory compliance.

    Source excerpt

    • The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 3 crore against ICICI Bank for violating norms related to classification, valuation and operation of investment portfolio by banks.
    • After considering the bank's reply to the notice, oral submissions made in the personal hearing and examination of additional submissions made by it, RBI came to the conclusion that the aforesaid charge of non-compliance with RBI directions was substantiated and warranted imposition of monetary penalty,
    • This fine was imposed for violation of certain directions issued by RBI on ‘prudential norms for classification, valuation and operation of investment portfolio by banks’
    Source

  2. 2008

    Rumours of financial weakness during the global crisis

    During the 2008 financial crisis, rumours about a possible bank failure led customers in some locations to rush to ICICI Bank branches and ATMs. The Reserve Bank of India issued a clarification regarding the bank's financial strength. The cited material describes a confidence event and regulatory reassurance, not a confirmed bank failure.

    Source