SEBI issues warning to ICICI over FPI non-compliance

SEBI has issued a warning letter to ICICI Bank over an alleged compliance lapse involving a Foreign Portfolio Investor (FPI), which was reportedly allowed to withdraw funds before completing the mandatory retention period under the Voluntary Retention Route (VRR). The VRR framework subjects FPI investments to a minimum lock-in period. ICICI Bank said the matter has no material financial impact.