ICICI Bank Faces Rs 22.73 Lakh RBI Penalty, Proceeds with Macquarie Foreign Investor Meet
ICICI Bank paid an RBI fine of Rs 22.73 Lakh for FEMA violations and simultaneously announced a crucial in-person investor meeting on Dec 2 for the Macquarie foreign trip.
Mumbai: ICICI Bank Limited shared two important updates on November 26, 2025, related to compliance and investor engagement. First, it disclosed a penalty from the Reserve Bank of India (RBI) for compliance issues. Then, it announced a meeting with foreign investors.
RBI Imposes Rs 22.73 Lakh Fine for FEMA Violations
ICICI Bank received a notice from the Reserve Bank of India (RBI), Foreign Exchange Department, Ahmedabad. The notice instructs the bank to pay a penalty of INR 22,73,554 (Rupees Twenty Two Lakhs Seventy Three Thousand Five Hundred and Fifty Four only).
The penalty was imposed for several violations of the Foreign Exchange Management Act (FEMA), including:
- Delayed Filing: Failing to file Form FCGPR and Form FCGPR Part B on time in some cases.
- ESOP Contravention: Receiving funds through an ineligible method during some instances of ESOP allotment to Non-residents.
- Annual Return Delay: Late filing of the Annual Return of Foreign Liabilities and Assets for five financial years.
The bank confirmed that the fine reflects the direct financial impact of the RBI's order, resolving the issue related to these compliance violations.
Upcoming Investor Engagement Scheduled
Shortly after the compliance disclosure, ICICI Bank informed the stock exchanges about its upcoming meetings with institutional investors.
The main event is a group meeting for the Macquarie foreign investor trip on December 02, 2025.
The bank stated that, in line with fair disclosure rules, discussions during this meeting will focus on publicly available documents. This meeting gives the bank a chance to update the investment community on its operations, financial performance, and compliance status after the RBI's action.