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RBI levies penalty of Rs 30 lakh on ICICI Bank

16 Dec 2021 Evaluate

Reserve Bank of India (RBI) has slapped Rs 30 lakh fine on ICICI Bank. The penalty on ICICI Bank has been imposed for non-compliance with certain directions issued by RBI on ‘Levy of penal charges on non-maintenance of minimum balances in savings bank accounts’ dated November 20, 2014.

RBI said that the statutory inspection for supervisory evaluation of the bank was conducted by RBI with reference to its financial position as on March 31, 2019.

ICICI Bank is a leading private sector bank in India.

Peers
Company Name CMP
HDFC Bank 705.00
ICICI Bank 1333.00
Axis Bank 1223.95
Kotak Mahindra Bank 416.30
Indusind Bank 882.30
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