ICICI gets RBI nod for making ICICI Securities its subsidiary

Mumbai: ICICI Bank said on Thursday that it has received the Reserve Bank of India’s (RBI) clearance for making ICICI Securities its wholly-owned subsidiary.

“We would like to inform you that today the bank has received approval from Reserve Bank of India for making ICICI Securities a wholly owned subsidiary, subject to certain conditions,” the bank said in an exchange notification. ICICI Securities had on June 29 announced that it will delist and become a wholly-owned subsidiary of its parent company ICICI Bank.