The bank said the warning letter would not have any impact on its business | (Photo: Reuters)
The Securities and Exchange Board of India (Sebi) has issued a warning letter to ICICI Bank in its capacity as a custodian for permitting a foreign portfolio investor (FPI) to repatriate funds before completion of the committed retention period under the Voluntary Retention Route (VRR).
In a regulatory filing to the stock exchanges, ICICI Bank said Sebi, through its letter dated 1 June, received by the bank on 2 June, had issued the warning letter for a violation of regulatory provisions governing FPIs.
The lender said the action pertained to a violation of the Reserve Bank of India’s master direction dated 7 January 2025 and the Sebi (Foreign Portfolio Investors) Regulations, 2019.
The bank said the warning letter would not have any impact on its business. “There is no material impact on the financials, operations or other activities of the bank,” ICICI Bank said in the filing.
The bank also said the disclosure was not made within the prescribed timeline owing to an internal delay.
“The disclosure could not be submitted within the prescribed timeline due to an inadvertent internal delay,” it said.
First Published: Jun 04 2026 | 7:58 PM IST
