trending Market Intelligence /marketintelligence/en/news-insights/trending/uyt_bno4ypqcpxutvxj5ba2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Indian central bank fines ICICI Bank for violating guidelines on securities sale

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

Indian central bank fines ICICI Bank for violating guidelines on securities sale

India's central bank fined ICICI Bank Ltd. 589 million rupees for its failure to comply with regulatory guidelines on the sale of securities from its held-to-maturity, or HTM, portfolio and disclosure requirements.

Securities acquired by banks with an intention to hold them till maturity are classified under the HTM category. In case the value of sales of securities from the HTM category exceeds 5% of such investments, the Reserve Bank of India's guidelines require banks to disclose the market value of such investments in their annual financial statements.

ICICI Bank said March 29 that it was fined by the Reserve Bank of India for continued sale of government securities classified under the HTM category for a few weeks during the quarter ended March 31, 2017. However, the bank explained that it sold bonds from HTM category due to "a genuine misunderstanding on the timing of the applicability of RBI's directions in this matter."

While the bank had disclosed in its fiscal 2017-2018 annual report that it sold more than 5% of investments categorized HTM, it did not make specified additional disclosure at that time. The bank added that it has been making specified disclosure since the quarter ended June 30, 2017.

As of March 28, US$1 was equivalent to 65.16 Indian rupees.