India, Aug. 11 -- The Reserve Bank of India (RBI) has, by an order dated August 07, 2025, imposed a monetary penalty of Rs 75.00 lakh (Rupees Seventy Five Lakh only) on ICICI Bank Limited (the bank) for non-compliance with certain directions issued by RBI on 'Valuation of Properties - Empanelment of Valuers' and 'Opening of Current Accounts by Banks – Need for discipline'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
The Statutory Inspection for Supervisory Evaluation (ISE 2024) of the bank was conducted by RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of ...