ICICI Bank (NYSE: IBN) reports RBI forex compounding order of INR 22,73,554
Rhea-AI Filing Summary
ICICI Bank Limited reported that it has received a compounding order from the Reserve Bank of India’s Foreign Exchange Department in Ahmedabad. The order directs the bank to pay INR 22,73,554 (Rupees Twenty Two Lakhs Seventy Three Thousand Five Hundred and Fifty Four only).
The order relates to delays in filing certain foreign exchange reporting forms, including Form FCGPR, Form FCGPR Part B, and the Annual Return of Foreign Liabilities and Assets for five financial years, as well as receipt of funds through an ineligible mode of payment in some instances of ESOP allotments to non-residents. The bank states that the financial impact of this action is the compounding amount of INR 22,73,554.
Positive
- None.
Negative
- None.
FAQ
What regulatory action involving ICICI Bank (IBN) is disclosed in this 6-K?
How much is ICICI Bank required to pay under the RBI compounding order?
What types of violations or contraventions are cited against ICICI Bank (IBN)?
Which regulations does ICICI Bank reference in making this disclosure?
Does the compounding order affect ICICI Bank’s operations according to this disclosure?
AI-generated analysis. How Rhea-AI works. Not financial advice.
