CURRENT AFFAIRS

Detailed explanation-1: -The Monetary Board of the Central Bank of Sri Lanka, having considered the request made by ICICI Bank, has granted approval to close down the business operation of the bank in Sri Lanka and cancel the licence issued to it.

Detailed explanation-2: -The Bank currently has subsidiaries in the United Kingdom and Canada, branches in United States, Singapore, Bahrain, China, Hong Kong and Dubai International Finance Centre and representative offices in United Arab Emirates, South Africa, Bangladesh, Malaysia and Indonesia.

Detailed explanation-3: -ICICI Bank Q3 net profit surges 34% to Rs 8, 312 crore, beats estimates.

Detailed explanation-4: -"We do not see any problem with the ICICI Bank, ” said a senior Finance Ministry official, adding, all Indian banks are well-capitalised and well-regulated.