Key facts
- ICICI Bank received a warning letter from Sebi for a custodian violation related to FPI fund repatriation.
- ICICI Bank stated the violation will have no material impact on its financials.
- Motilal Oswal maintains a 'Buy' rating on ICICI Bank.
- Motilal Oswal set a target price of Rs 1,750 for ICICI Bank.
ICICI Bank's shares are currently under scrutiny after the lender received a warning letter from the Securities and Exchange Board of India (Sebi). The warning pertains to a custodian violation concerning the repatriation of Foreign Portfolio Investor (FPI) funds. Despite the regulatory notice, ICICI Bank has communicated that this incident is not expected to have any material impact on its financial performance. In parallel, financial services firm Motilal Oswal has reiterated its positive stance on the bank, maintaining a 'Buy' rating and setting a target price of Rs 1,750, citing strong growth prospects.