ICICI issues clarification on penalty by RBI

Last Updated: Mar 30 2018 | 9:06 PM IST

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New Delhi, Mar 30 (ANI): ICICI Bank issued a clarification after the Reserve Bank of India (RBI) imposed penalty on it. In a statement, ICICI Bank said it gives utmost importance to regulatory compliance and ensuring compliance with all directives, guidelines and observations by RBI. It added that RBI has imposed a penalty on the Bank for continued sale of government securities classified as HTM. Earlier in the day, the RBI imposed monetary penalty worth Rs. 58.9 crore on ICICI Bank for failing to abide by rules on the sale of bonds in the held-to-maturity (HTM) category.