ICICI Bank’s SL licence cancelled on request

Saturday, 24 October 2020 00:15 - - {{hitsCtrl.values.hits}}

The Monetary Board of the Central Bank said yesterday, having considered the request made by ICICI Bank Ltd. India, it has granted approval to close down business operations of ICICI Bank in Sri Lanka and cancel the licence issued to it in terms of the provisions of the Banking Act, No. 30 of 1988, subject to several terms and conditions. Upon the Director of Bank Supervision being satisfied with ICICI Bank complying with the terms and conditions imposed by the Monetary Board, the licence issued to ICICI Bank to carry on banking business was cancelled with effect yesterday.