ICICI Bank Limited has received a warning letter from the Securities and Exchange Board of India (SEBI) concerning its role as a Custodian. The SEBI letter, dated June 1, 2026, and received by the bank on June 2, 2026, indicates that the bank permitted a Foreign Portfolio Investor (FPI) to repatriate funds before the completion of the committed retention period under the Voluntary Retention Route. This action was in violation of the Reserve Bank of India's Master Direction dated January 7, 2025, and SEBI (Foreign Portfolio Investors) Regulations, 2019. The bank stated that there is no material impact on its financial, operational, or other activities. The delay in submitting this disclosure was attributed to an inadvertent internal delay.
