ICICI Bank Limited has received a significant Goods and Services Tax (GST) demand of ₹384.33 crores from the Maharashtra tax authorities, according to a regulatory disclosure filed on March 19, 2026. The demand pertains to services provided by the bank to customers maintaining specified minimum balances in their accounts.

GST Demand Details

The bank received an Order under Section 74 of the Maharashtra Goods and Services Tax Act, 2017 from the Additional Commissioner of CGST and CEx., Mumbai East Commissionerate on March 18, 2026 at 03:42 p.m. The order raises a GST demand along with equivalent amounts of penalty and interest as applicable.

Bank's Response and Legal Strategy

ICICI Bank has indicated it will take appropriate steps to contest the order, including filing a writ petition within the prescribed timelines. The bank noted that it is already engaged in litigation on similar issues, including writ petitions related to previous orders and Show Cause Notices (SCNs) on comparable matters.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as the aggregate amount involved crosses the materiality threshold for reporting requirements.

Regulatory Compliance

The bank has informed multiple stock exchanges about this development, including:

• BSE Limited
• National Stock Exchange of India Limited
• New York Stock Exchange (NYSE)
• SIX Swiss Exchange Ltd.
• Singapore Stock Exchange
• Japan Securities Dealers Association

This comprehensive disclosure reflects the bank's commitment to maintaining transparency with stakeholders across all its listing jurisdictions regarding material developments that could impact its operations.

ICICI Bank Limited has announced the successful redemption of USD 800 million notes under its Global Medium Term Note Programme on March 18, 2026. The redemption was completed in full compliance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Redemption Details

The bank redeemed notes with a total value significantly higher than the principal amount due to accrued interest obligations. The comprehensive redemption package demonstrates ICICI Bank's commitment to meeting its international debt obligations on schedule.

Note Identification and Programme Details

The redeemed securities were issued under the bank's Global Medium Term Note Programme and carried specific international identification numbers for tracking and settlement purposes.

Regulatory Compliance and Notifications

The redemption was formally communicated to multiple stock exchanges and regulatory bodies as part of ICICI Bank's disclosure obligations. The bank notified both domestic and international exchanges to ensure transparency across all markets where its securities are listed.

Notified Exchanges:

• BSE Limited (Mumbai)
• National Stock Exchange of India Limited
• New York Stock Exchange (NYSE)
• Japan Securities Dealers Association
• Singapore Stock Exchange
• SIX Swiss Exchange Ltd.

The redemption represents the successful completion of the bank's obligations under this particular issuance of the Global Medium Term Note Programme, with all principal and interest amounts paid in full on the scheduled maturity date.