Reserve Bank of India (RBI) has imposed a fine of Rs 58.9 crore on ICICI which is the second largest private sector bank. The central bank has said that ICICI bank ignored the rules that were already in place. After which he had to take this step.
The central bank issued a press release saying that the bank had sold the securities of its HTM portfolio, but did not share information about it. The central bank has done this under Section 47A (1) (C) and Section 46 (4) (i) of Banking Regulation Act, 1949.
Published On : 29 Mar 2018