RBI imposes ₹3 crore penalty on ICICI Bank over rule violations

RBI has imposed a penalty of ₹3 crore on ICICI Bank for certain rule violations. RBI said the fine was imposed for violation of certain directions issued by RBI on "prudential norms for classification, valuation and operation of investment portfolio by banks". RBI also found that the bank shifted securities from one category to another which was against its regulations.