SEBI warns ICICI Bank for breaching RBI and SEBI rules
Business
ICICI Bank just got a warning from SEBI for letting a foreign investor pull out funds early, breaking rules set by RBI and SEBI.
The bank says the disclosure was delayed due to an "inadvertent internal delay" and insists there's no financial fallout from the slip-up.
Q4 profit ₹13,701.7 cr up 8.5%
Even with the regulatory hiccup, ICICI Bank posted solid Q4 numbers: net profit jumped 8.5% year-on-year to ₹13,701.7 crore, net interest income rose 8.4%, and asset quality improved with gross NPA down to 1.4%.
Shares actually closed up 0.8% on June 4, showing investors weren't too worried about the warning.