Exhibit 11.1



































ICICI GROUP



CODE OF BUSINESS CONDUCT AND

ETHICS









April 2016














ICICI Bank
Limited



































|Topic |  | Page
    No.
|----- |  | ------------





|1.  | Preamble                                                 |  | 02
|--- | -------------------------------------------------------- |  | --
|2.  | Conflicts of Interest and Outside Activities             |  | 03
|3.  | Privacy / Confidentiality                                |  | 05
|4.  | Anti Bribery and Anti Corruption/Gifts and Entertainment |  | 07
|5.  | Personal Investments                                     |  | 09
|6.  | Know Your
    Customer / Anti Money Laundering           |  | 10
|7.  | Accuracy of
    Company Records and Reporting            |  | 11
|8.  | Protecting
    ICICI Group's Assets                      |  | 12
|9.  | Workplace
    Responsibilities                           |  | 13
|10. | Raising Ethical
    Issues                               |  | 16
|11. | Special Responsibilities
    of Superiors and Managers   |  | 17
|12. | Compliance
    with Laws, Rules and Regulations          |  | 18







Group Code of Business Conduct and Ethics1


ICICI Bank Limited




|13. | Key Irregularities            | 19
|--- | ----------------------------- | --
|14. | Disciplinary Procedures       | 22
|15. | Compliance with the Code      | 25
|16. | Appendix: Duties of Directors | 28
|17. | Employee Declaration          | 30



Group Code of Business Conduct and Ethics2


ICICI Bank Limited


Preamble



| | • | ICICI Group expects all its employees, officers and Directors to act in accordance with high professional
and ethical standards. You must be, and be seen to be, committed to integrity in all aspects of your activities and comply with
all applicable laws, regulations and internal policies.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | • | In accepting a position with ICICI Group or any of its subsidiaries, each of you become accountable
for compliance with the law, with the ICICI Group Code of Business Conduct and Ethics (‘the Code’), and with policies
of your respective business units.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | • | The standards of the Code are not necessarily prescribed by the regulators - they are something,
which a well respected institution must have in place and adhere to on an ongoing basis. We therefore expect a high level of ethical
conduct.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | • | You must conduct your duties according to the language and spirit of this Code and seek to avoid
even the appearance of improper behaviour. Your actions need to demonstrate and evidence the principle of acting in good faith
and without negligence. You should be aware that even well intentioned actions that violate the law or this Code may result in
negative consequences for ICICI Group and for the individuals involved.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | • | While covering a wide range of business practices and procedures, these standards cannot and do
not cover every issue that may arise, or every situation where ethical decisions must be made, but rather set forth key guiding
principles that represent ICICI Group’s policy.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Group Code of Business Conduct and Ethics3


ICICI Bank Limited


Group
Code of Business Conduct and Ethics



Conflict of Interest and
Outside Activities



Conflicts Of Interest
– General Principles



| | · | Conflicts of interest can occur if our
business practices sacrifice interests of one set of customers in favour of another or place business interests ahead of customers.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | To address such situations, the Bank has
adopted a Framework for Managing Conflict of Interest which articulates several measures taken by the Bank in ensuring that conflicts
of interest are handled in an appropriate manner, at the individual employee level, at the level of Board of Directors and at the
Group level.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | If you are aware of any circumstances which
you think may give rise to a conflict of any kind, or if you become aware of information which places you in difficulty in carrying
out your function (for example, if you obtain confidential information about a company), you must handle the same as per the conflict
of interest framework applicable to your Company.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | As part of its management of conflict of
interest, the Bank has put in place a process approved by its Product and Process Approval Committee viz., the “Operational
Framework for Chinese Wall” for ensuring that confidential information is appropriately secured and decisions and service
to clients are independent of such confidential information. There are information barriers between departments that routinely
have access to confidential / non - public Information ("Insider Areas") from those who do not have such access ("Public
Areas").  As a general principle, “Insider areas” should refrain from sharing any information with anybody
in the “Public Areas”. However, in case the need is felt, the procedure for crossing the wall including obtaining prescribed
approvals needs to be followed.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | You would be expected to be sensitive to
any activities, interests or relationships that might interfere with or even appear to interfere with, your ability to act in the
best interests of ICICI Group and its customers.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | You must disclose to the HR of your company,
annually, a statement that you have no material interest or any other conflicting interests, in any person who is a party to a
material contract or proposed contract with ICICI Group. In case of any doubt in regard to the extent of disclosure applicable,
kindly contact the HR department.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Examples of situations that could involve
conflicts of interest include:
| | - | ------------------------------------------------------------------------



| | o | Selling a product that is profitable for the Group but not appropriate for the customer;
| | - | ----------------------------------------------------------------------------------------



Group Code of Business Conduct and Ethics4


ICICI Bank Limited


| | o | Ownership, by employees or their family members, of a significant interest in any outside enterprise,
which does or seeks to do business with or is a competitor;
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------



| | o | Acting as a broker, finder, go-between or otherwise for the benefit of a third party in transactions
involving or potentially involving the Group or its interests;
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | o | Working, in any capacity, for a competitor, customer, supplier or other third party while employed
by ICICI Group;
| | - | ------------------------------------------------------------------------------------------------------------------



| | o | Competing with ICICI Group for the purchase or sale of property, products, services or other interests;
| | - | -------------------------------------------------------------------------------------------------------



| | o | Having an interest in a transaction involving the Bank, a competitor, customer or supplier (other
than as an employee, officer or director of the Bank and not including routine investments in publicly traded companies);
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | o | Receiving a loan or guarantee of an obligation as a result of your position with the Bank;
| | - | ------------------------------------------------------------------------------------------



| | o | Directing business to a supplier owned or managed by, or which employs, a relative or friend.
| | - | ---------------------------------------------------------------------------------------------



Conflicts of interest
arising out of personal Investments



While undertaking personal
investments, it should be borne in mind that such investments should not:



| | · | Affect or appear to affect your ability
to make unbiased business decisions for ICICI Group;
| | - | --------------------------------------------------------------------------------------------



| | · | Be contrary to ICICI Group's interests
(e.g. using proprietary knowledge obtained through the course of employment to make investments that are not in the best interest
of the ICICI Group);
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Be in the businesses of ICICI Group’s
customers, suppliers, or competitors that could cause divided loyalty, or even the appearance of divided loyalty.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------



Please refer to the section
on personal investments for further guidelines in relation to adherence to the Code of Conduct for Prevention of Insider Trading.



Conflicts of interest
through outside business activities



| | · | Due to potential conflicts with ICICI Group,
you must obtain approval from Committee of Directors (or an appropriate internal committee in case of other entities in ICICI Group)
before you accept a position as a director of an unaffiliated for-profit company or organization or when you work with a professional
organisation/ association outside ICICI Group.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Group Code of Business Conduct and Ethics5


ICICI Bank Limited


| | · | Working with professional organisations/
associations does not typically create a conflict of interest where :
| | - | --------------------------------------------------------------------------------------------------------------



| | · | The work is related to the legitimate professional
interest and development of the employee and does not interfere with the employee’s regular duties;
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Does not use official resources inappropriately
(either physical resources or time);
| | - | ------------------------------------------------------------------------------------



| | · | Does not compete with the work of ICICI
Group and is not otherwise contrary to the best interests of the Group;
| | - | ---------------------------------------------------------------------------------------------------------------



| | · | Does not violate national, international
or local law.
| | - | ------------------------------------------------------



| | · | It may however be mentioned that, while
undertaking outside activities, you should not use ICICI Group name, facilities, or relationships for personal benefit. Further
any employee accepting an appointment, as director of an unaffiliated for-profit company/ organisation must ensure proper treatment
of confidential information received from such entity in connection with being a director.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Dos and Don’ts



Do



| | · | Act in the best interests of ICICI Group
and its customers and handle activities, interests or relationships in a sensible manner
| | - | ---------------------------------------------------------------------------------------------------------------------------------



| | · | Handle conflicts of interest as per applicable
Conflicts of Interest Framework
| | - | ------------------------------------------------------------------------------



| | · | Submit an annual statement of Conflicts
of Interest to the HR of your Company
| | - | -----------------------------------------------------------------------------



Don’t



| | · | Undertake
personal investments or outside activities or involve in any financial transaction with colleagues,
customers or suppliers that would create conflicts of interest
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Privacy/Confidentiality



Proprietary and Confidential
Information



| | · | You must always protect the confidentiality
of proprietary and confidential information (sensitive to ICICI Group) you obtain or create in connection with your activities
for ICICI Group, in accordance with the applicable law. Your obligation to protect ICICI Group’s proprietary and confidential
information continues even after you leave the Group, and you must return all proprietary information in your possession upon leaving
ICICI Group.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Group Code of Business Conduct and Ethics6


ICICI Bank Limited


| | · | Proprietary and confidential information
include any system, information or process (sensitive in nature) that gives ICICI Group an opportunity to obtain an advantage over
competitors; nonpublic information about ICICI Group businesses, its customers and its employees, any other nonpublic information
received.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Proprietary and confidential information
about ICICI Group, a customer, supplier or distributor, should not be disclosed (even with best of intentions) to anyone (including
other employees) not authorized to receive it or has no need to know the information, unless such disclosure is authorized by the
customer or is required by law, appropriate legal process or appropriate internal authorities.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Intellectual property of ICICI Group such
as trade secrets, patents, trademarks and copyrights, as well as business, research and new product plans, objectives and strategies,
records, databases, salary and benefits data, employee medical information, customer, employee and suppliers lists and any unpublished
financial or pricing information are some examples of proprietary and confidential information that need to be protected.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Unauthorized use or distribution of proprietary
information violates the internal policies and could be illegal. Such use or distribution could result in negative consequences
for both ICICI Group and the individuals involved, including potential legal and disciplinary actions.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Acts of ignorance that could lead to leakage
of such proprietary information, especially through electronic means – like e-mails, web uploads, removable media (e.g. CD/DVD/pen
drive) etc., may lead to investigation and probe against the employees.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | It is your responsibility to protect proprietary
and confidential information (sensitive in nature) pertaining to the Bank or its customers in a manner commensurate with its classification
as per the principles enunciated in the Information Security Policy, Standards & Procedures of ICICI Group.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | ICICI Group reserves the rights to monitor
its employees’ activities on ICICI owned assets.
| | - | -------------------------------------------------------------------------------------------



| | · | We, at ICICI Group, respect the proprietary
rights of other companies and their proprietary information and require you also to observe such rights.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------



Privacy of Employee Information



At ICICI Group, we recognise
and protect the privacy and confidentiality of employee medical and personal records. Such records would be shared strictly on
need to know basis or as required by any law, rule and regulation or when authorized by the employee or as per subpoena or court
order and requires approval by internal counsel.





Dos and Don’ts



Do



Group Code of Business Conduct and Ethics7


ICICI Bank Limited


| | · | Properly control access to your work areas
and computers and keep sensitive information safe and secured in all forms, physical or electronic
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------



| | · | Ensure appropriate destruction of information
(both physical or electronic) when the same is not required for work anymore
| | - | --------------------------------------------------------------------------------------------------------------------------



| | · | Obtain any relevant information directly
from the person concerned
| | - | ------------------------------------------------------------------



| | · | Access to information or data by outsourced
will also be subjected to the relevant employee’s accountability, in case such data is misused
| | - | ------------------------------------------------------------------------------------------------------------------------------------------



| | · | Keep customer information secured at all
times and uphold ICICI Group Privacy promise for customers
| | - | ---------------------------------------------------------------------------------------------------



| | · | Limit access to non-public information
strictly to authorised personnel on a ‘need to know’ basis
| | - | -------------------------------------------------------------------------------------------------



| | · | Comply with local data protection and privacy
laws that affect the collection, use and transfer of personal customer information
| | - | --------------------------------------------------------------------------------------------------------------------------------



| | · | While accessing Intranet and Internet,
ensure compliance with internal policies and procedures
| | - | ----------------------------------------------------------------------------------------------



| | · | Ensure that worldwide electronic information
exchange and dialogue, electronic business dealings are all as per internal policies and procedures
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Report information security incidents such
as suspicious emails, individual password sharing, data leakage or data theft, phishing or malware attacks, hacking attempts etc.
through the reporting mechanisms of ICICI Group.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Don’t



| | · | Discuss sensitive matters or confidential
information in public places
| | - | ----------------------------------------------------------------------



| | · | Violate the Information Security Policy
applicable to your Company
| | - | ------------------------------------------------------------------



| | · | Transfer official information into personal
databases or carry hard copies of official information (otherwise than for official purposes) outside the office, without prior
permission from your superior
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Pass information, in any manner, directly
or indirectly to any recruitment/search agencies or to competitor or any other organisations
| | - | --------------------------------------------------------------------------------------------------------------------------------------



| | · | Share sensitive information in the subject
line or body of e-mails or through unprotected attachments without proper authorisation and approved controls
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------



Anti Bribery and Anti
Corruption / Gifts & Entertainment



Accepting Gifts and Entertainment-
General Principles



| | · | In general, employees should not accept
gifts - anything of value (including entertainment and incentives) from current or prospective customers or suppliers, unless it
is in accordance with the Operational Guidelines for Acceptance of Gifts Entertainment and Sponsored Travel approved by the Product
& Process Approval Committee of the Bank. These guidelines broadly covers following areas:
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Gifts
| | - | -----



| | · | Entertainment and Sponsored Travel
| | - | ----------------------------------



| | · | Incentives offers received at the Bank's
Level
| | - | ----------------------------------------------



Group Code of Business Conduct and Ethics8


ICICI Bank Limited


Offering of Gifts and
Entertainment - General Principles



| | · | Gifts and/or entertainment should be offered
only post appropriate approvals from relevant senior management and in compliance with the Operational Guidelines for Gifts Entertainment
and Sponsored Travel. These guidelines broadly covers following areas:
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Gifts
| | - | -----



| | · | Entertainment, Hospitality and other expenses
| | - | ---------------------------------------------



| | · | Donations
| | - | ---------



Bribery and Corruption



| | · | Bribery/Corruption is defined as receiving
or offering of an undue reward from/to any third party.
| | - | --------------------------------------------------------------------------------------------------



| | · | You must note that ICICI Group follows
zero tolerance approach towards Bribery and Corruption.
| | - | ----------------------------------------------------------------------------------------------



| | · | You must not make any payment to or for
anyone for the purpose of obtaining or retaining business or for obtaining any favourable action. If you are found to be involved
in making such payments, you would be subject to disciplinary action as well as potential civil or criminal liability for violation
of the Code.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | You should not offer or give any funds
or property as donation to any government agency or its representatives, in order to obtain any favourable performance of official
duties.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | While you are expected to put in best of
your efforts in every transaction, you will not be penalised by ICICI Group for delayed performance of a transaction solely on
the grounds of refusal to pay bribes.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | You should familiarise yourself and comply
with the Bank's Anti Bribery and Anti Corruption Policy which is available on the Intranet. You should contact the Compliance Group
with any questions on the matter.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Dos and Don’ts



Do



| | · | Accept or offer any gift and/or entertainment
only in line with the Code and the Operational Guidelines for Gifts Entertainment & Sponsored Travel
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Adhere to Bank’s Anti-Bribery &
Anti- Corruption Policy
| | - | -------------------------------------------------------



Don’t



| | · | Make any payment to or for anyone that
could tantamount to bribe/corruption
| | - | ---------------------------------------------------------------------------



| | · | Receive/accept a gift, entertainment, etc.
from a prospective customer of the Bank
| | - | ----------------------------------------------------------------------------------



Group Code of Business Conduct and Ethics9


ICICI Bank Limited


| | · | Offer gifts and/or entertainment to any
person for the purpose of obtaining or retaining business or for influencing any decision or action of the recipient in an improper
manner
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Personal Investments



| | · | To
                                         protect the integrity of ICICI Group and its subsidiaries and affiliates, it is essential
                                         that you conduct your personal trading as per the framework prescribed for prohibition
                                         of insider trading under SEBI (Prohibition of Insider Trading) Regulations, 2015, in
                                         an appropriate manner that withstands public scrutiny and does not create even the appearance
                                         of impropriety.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | To protect the integrity of ICICI Group
and its subsidiaries and affiliates, it is essential that you conduct your personal trading as per Code of Conduct for Prevention
of Insider Trading (Insider Trading Code) under SEBI guidelines, in an appropriate manner that withstands public scrutiny and does
not create even the appearance of impropriety.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | ICICI Group policy and the laws of many
countries prohibit trading in securities of any company while in possession of material, non-public information (also known as
inside information) of any company. Employees of certain ICICI Group businesses are subject to additional personal trading policy
restrictions.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | You should note that using non-public information
to trade in securities, or providing a family member, friend or any other person with a “tip”, is illegal. All on public
information should be considered inside information and should never be used for personal gain.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | You
                                         are required to familiarise yourself and comply with the Code of Conduct laid by the
                                         Bank in line with SEBI (Prohibition of Insider Trading) Regulations, 2015 (or such other
                                         Code applicable to your Company), copies of which are available on the Intranet or from
                                         the Company Secretary.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Investments in securities should be made
as per the Insider Trading Code, of the respective company.
| | - | ----------------------------------------------------------------------------------------------------



Dos and Don’ts



Do



| | · | Ensure adherence to the Code for Prevention
of Insider Trading applicable to your Company
| | - | -----------------------------------------------------------------------------------------



Don’t



| | · | Handle personal investments while in possession
of “Insider information”
| | - | ------------------------------------------------------------------------



Group Code of Business Conduct and Ethics10


ICICI Bank Limited


Know Your Customer /
Anti Money Laundering



| | · | Anti Money Laundering & Combating Financing
of Terrorism legislations criminalize flow of money of/from the specified crimes including trafficking of any kind (e.g.: drug,
human, animal, organs, body parts, etc.), terrorism, theft, fraud, handling of stolen goods, counterfeiting, etc. It is also an
offence to undertake and/or facilitate transactions with individuals and entities whom you suspect of being involved in money laundering
or terrorist financing (ML/TF). In such cases, escalate your concerns to the Compliance team responsible for your units.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | ICICI Group does not do business with persons
suspected to be involved in ML/TF. We are fully aware that no customer relationship is worth compromising our commitment to combating
ML/TF.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | ICICI Group has adopted the Group Anti
Money Laundering (AML) and Combating Financing of Terrorism (CFT) Policy accompanied by detailed procedures with the principal
objectives as under:
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | o | Preventing ICICI Group from being used by money launderers to further their illicit business;
| | - | ---------------------------------------------------------------------------------------------



| | o | Enabling ICICI Group to assist law enforcement agencies in identifying and tracking down money
launderers;
| | - | ----------------------------------------------------------------------------------------------------------



| | o | Ensuring that ICICI Group remains compliant with all relevant anti-money laundering legislation
and regulations.
| | - | ----------------------------------------------------------------------------------------------------------------



| | · | You must exercise requisite care in selecting
those with whom we conduct business. While conducting business, you must adhere to processes which are in place for checking the
identity and complete profile of the customers and counter parties as per guidelines. In case of unusual transactions which are
not of regular nature, care should be exercised and reasons for undertaking that transaction should be analysed/documented with
appropriate internal approvals.  These processes ensure adequate customer due diligence and ongoing monitoring of their transactions.
This is done to detect suspicious transactions during the entire period of relationship.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Dos and Don’ts



Do



| | · | Ensure adherence to the Group Anti Money
Laundering Policy
| | - | ----------------------------------------------------------



| | · | Undergo relevant training to update yourself
on applicable internal KYC/AML guidelines
| | - | --------------------------------------------------------------------------------------



| | · | Exercise requisite due diligence while
accepting a customer and undertaking a transaction and make reasonable enquiries in case of doubt
| | - | ----------------------------------------------------------------------------------------------------------------------------------------



Group Code of Business Conduct and Ethics11


ICICI Bank Limited


| | · | Escalate all suspicious activities/ transactions
(including attempted/aborted transactions) where ML/TF is suspected regardless of the amount involved or the nature of the offence
as per the applicable internal procedures. Failure to report suspicious transactions despite having knowledge is an offence under
law.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Don’t



| | · | Provide assistance to any person to launder
proceeds of any criminal conduct
| | - | ----------------------------------------------------------------------------



| | · | Prejudice an investigation by informing
(i.e. tipping off) the person who is the subject of a suspicious transaction
| | - | --------------------------------------------------------------------------------------------------------------------



| | · | Attempt to undertake investigations on
your own without the guidance of the relevant officials when any incident is reported.
| | - | -----------------------------------------------------------------------------------------------------------------------------



Accuracy of Company
Records and Reporting



| | · | You must ensure that records, data and
information owned, collected, used and managed by you for ICICI Group are accurate and complete. Records must be maintained as
per the applicable record retention policy of your Company in sufficient detail so as to reflect accurately the company's transactions.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | You must assist in maintenance of appropriate
records so as to ensure that financial transactions are prepared in accordance with generally accepted accounting principles and
that they fairly present the financial conditions and results of the company.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | You must observe high standards of decency
regarding content and language when creating business records and other documents (such as email) that may be retained by ICICI
Group or a third party.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Non-maintenance of these records that comes
into your notice and any misappropriation or tampering of records needs to be reported to a relevant authority.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------



Reporting to Government/external
agencies



| | · | ICICI Group has a responsibility to communicate
effectively with shareholders so that they are provided with full, accurate and timely information, in all material respects, about
the ICICI Group’s financial results and condition of operations. Our reports and documents are required to be filed with
or submitted to regulatory authorities in various countries. Hence, such reports and any other public communications should be
full, fair, accurate, timely and understandable.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | You must, therefore, never make inaccurate
or misleading reports, certificates, claims or statements to government / regulatory authorities.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------



Dos and Don’ts



Do



Group Code of Business Conduct and Ethics12


ICICI Bank Limited


| | · | Maintain accurate data in sufficient detail
to reflect accuracy of company transactions
| | - | ---------------------------------------------------------------------------------------



| | · | Assist in preparation of true and fair
financial statements of the company
| | - | --------------------------------------------------------------------------



| | · | Crosscheck the reports being submitted
to regulatory authorities; in case there are any errors found, report to the relevant authority and take corrective action immediately.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Don’t



| | · | Make inaccurate reports to the applicable
government / regulatory authorities
| | - | -----------------------------------------------------------------------------



Protecting ICICI Group’s Assets



Protecting ICICI Group’s
assets against loss, theft or other misuse is the responsibility of every employee, officer and Director. Loss, theft and misuse
of ICICI Group’s assets directly impact our profitability. Any suspected loss, misuse or theft should be reported to your
supervisor or the Chief Financial Officer.



Dos and Don’ts



Do



| | · | Use ICICI Group assets (physical and intellectual)
primarily for official purposes
| | - | ----------------------------------------------------------------------------------



| | · | Report any misuse or theft of assets, including
instances of data leakage or data theft, by any employee or outsourced agents of ICICI Group that comes to your notice
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------



Don’t



| | · | Copy, sell, use or distribute information,
software and other forms of intellectual property in violation of licenses
| | - | ---------------------------------------------------------------------------------------------------------------------



| | · | Misappropriate ICICI Group assets as it
is a breach of your duty and may constitute an act of fraud against ICICI Group
| | - | -----------------------------------------------------------------------------------------------------------------------



| | · | Use official resources in another business
in which you, a friend or family member is involved
| | - | ----------------------------------------------------------------------------------------------



| | · | Use official stationery, supplies, and
equipment for personal or political matters
| | - | ----------------------------------------------------------------------------------



| | · | Introduce, access or download material
considered indecent, offensive, or is related to the production, use, storage , or transmission of sexually explicit or offensive
items using ICICI Group assets
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Conduct any illegal or objectionable activities,
including gambling, gaming, etc. using ICICI Group assets
| | - | ----------------------------------------------------------------------------------------------------------



| | · | Make any changes to the settings or configurations
of ICICI Group assets without authorisation as per extant process
| | - | --------------------------------------------------------------------------------------------------------------------



| | · | Open attachments or click on links in websites
or unexpected emails that come from unknown or untrusted sources or seem suspicious
| | - | ----------------------------------------------------------------------------------------------------------------------------------



| | · | Attempt to hack or gain illegal access
to any ICICI Group assets
| | - | ----------------------------------------------------------------



Group Code of Business Conduct and Ethics13


ICICI Bank Limited


| | · | Download or install freeware or shareware
(including screensavers), without authorisation as per the extant process
| | - | -------------------------------------------------------------------------------------------------------------------



Workplace Responsibilities



Fair Employment Practices
and Diversity



| | · | ICICI Group is committed to adoption of
fair employment practices. It ensures diversity of workplace through efforts to recruit, develop and retain the most talented people
from a diverse candidate pool. It upholds the principle that advancement is based on talent and performance and there is a commitment
to equal opportunity.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | As a fair employment practice, we expect
that you shall not (during the course of your service or upon cessation of your service for a period of six months from the date
of cessation) directly or indirectly on your own accord or on behalf or in conjunction with any other person, convey or solicit
or attempt to induce any employee or business associate to leave their current employment with ICICI Group and join the service
of the new employer or any competitor.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Fair Competition



| | · | Although it is common to gather information
about the general marketplace, including competitors' products and services, the Company wants to compete fairly.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------



Drug Free Workplace



| | · | You should ensure that your workplace is
healthy and productive and free from drugs.
| | - | ------------------------------------------------------------------------------------



Discrimination and Harassment
and Intimidation



| | · | ICICI Group is committed to prohibition
of harassment and intimidation of employees in the workplace. ICICI Group discourages conduct that implies granting or withholding
favours or opportunities as a basis for decisions affecting an individual, in return for that individual’s compliance. Such
action is an easier form of harassment to identify because it takes the form of either a threat or a promise, whether explicit
or implied.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | ICICI Group has a Sexual Harassment Policy
that prohibits unwelcome advances, requests for sexual favours, or other verbal or physical conduct where such conduct has the
purpose or effect of unreasonably interfering with an individual’s work performance or creating an intimidating, hostile
or offensive working environment.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Safety in the Workplace



Group Code of Business Conduct and Ethics14


ICICI Bank Limited


| | · | ICICI Group considers safety of employees
as the primary concern. ICICI Group is committed to safety of employees and expects its businesses and employees to comply fully
with appropriate laws and internal regulations.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | ICICI Group encourages responsible behaviour
of its employees and colleagues that result in the best possible accident prevention measures. This applies both to the technical
planning of workplaces, equipment, and processes and to safety management and personal behaviour in everyday workplace.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Your work environment, therefore, must
conform to the requirements of health oriented safety design and you must constantly be attentive to safety principles.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------



Fair Treatment of counter-parties



| | · | The quality of our relationships with our
suppliers and other external counterparties often has a direct bearing on the quality of our products, services and ultimately
our customer relationships. We therefore expect our suppliers to operate to the same standards as we expect of ourselves.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | All such relationships with external counter-parties
should be conducted in professional and impartial manner. Vendor selection and hiring decisions must be made objectively and in
best interest of ICICI Group, based on evaluation of integrity, suitability, price, delivery of goods/ service, quality and other
pertinent factors. You should commit to fair contract and payment terms with them in return of good service at a good price supplied
in a responsible manner.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Your personal relationship with contractors,
suppliers and vendors should be disclosed to your superior at the time of entering into the transaction and should not influence
decisions made on behalf of ICICI Group. Negotiations with customers and potential customers should be conducted in a professional
manner.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Vendors or suppliers should not be used
for any personal purposes, so as to have any conflict of interest while dealing with them.
| | - | ----------------------------------------------------------------------------------------------------------------------------------



Corporate Opportunities



| | · | Employees, officers and Directors are prohibited
from taking for themselves business opportunities that arise through the use of corporate property, information or position. No
employee, officer or Director may use corporate property, information or position for personal gain, and no employee, officer or
Director may compete with ICICI Group.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Competing with ICICI Group may involve
engaging in the same line of business as the Group, or any situation where the employee, officer or Director takes away from the
Group opportunities for sales or purchases of property, products, services or interests.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Contact with Media



Group Code of Business Conduct and Ethics15


ICICI Bank Limited


| | · | In order to pro-actively manage our reputation
with the media and to ensure consistency of messages, interaction with media must only occur with the prior approval of Corporate
Brand and communications Group.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Social Media



| | · | Social media allows users to interact with
each other by sharing information, opinions, knowledge and interests. Some examples of social media are sites such as Facebook,
YouTube, LinkedIn, Orkut, Twitter etc.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | There are various risks associated with
communicating on the Social Media platform. Thus, there is a need to address such concerns in an appropriate manner keeping in
mind employee’s freedom and the interest of the Bank and its wider stakeholders.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Bank’s Social Media Policy lays down
standards employees should adhere to while communicating internally, externally as well as online.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------



Dos and Don’ts



Do



| | · | Ensure that external, internal & online
communications are in line with the Bank’s Social Media Policy
| | - | ------------------------------------------------------------------------------------------------------



| | · | Respect personal dignity, privacy, and
personal rights of every individual
| | - | --------------------------------------------------------------------------



| | · | Work together with women and men of various
nationalities, cultures, religions, and races in a professional manner
| | - | ------------------------------------------------------------------------------------------------------------------



| | · | Be open and honest and stand by your responsibility
| | - | ---------------------------------------------------



| | · | Treat our customers, suppliers, competitors
and employees fairly
| | - | ----------------------------------------------------------------



| | · | Maintain the safe and healthy working environment
provided by the company
| | - | -------------------------------------------------------------------------



| | · | Be committed to prevent wasteful use of
natural resources
| | - | ---------------------------------------------------------



Don’t



| | · | Discriminate, harass or offend anybody
by whatever means, be it sexual or otherwise
| | - | -----------------------------------------------------------------------------------



| | · | Use ICICI Group systems to transmit or
receive electronic images or text of a sexual nature or containing ethical slurs, racial epithets or other harassing, offensive
or lewd materials
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Obtain competitive information by unethical
or illegal means, such as corporate espionage or improper access to confidential information
| | - | ----------------------------------------------------------------------------------------------------------------------------------------



| | · | Engage in contacts with competitors that
could create even an appearance of improper agreements, whether the contact is in person, in writing, by telephone or through e-mail
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Take unfair advantage of anyone through
manipulation, concealment, abuse of privileged information, misrepresentation of material facts or any other unfair dealing practice
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Do not issue directives to violate the
terms of vendor’s contracts
| | - | ------------------------------------------------------------------



Group Code of Business Conduct and Ethics16


ICICI Bank Limited


Raising Ethical Issues



| | · | ICICI Group encourages employees to report
to their supervisor/ HR/ compliance, concerns and suspected violations of the Code, internal policies, external legal and regulatory
requirements etc. You may choose to remain anonymous if you wish. All significant breaches should be escalated immediately.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | ICICI Group will conduct prompt and thorough
investigations of alleged violation and take appropriate corrective action.
| | - | ------------------------------------------------------------------------------------------------------------------------



| | · | Retaliatory action against an employee
for making a good faith report is prohibited.
| | - | ------------------------------------------------------------------------------------



| | · | HR takes appropriate actions against individuals
who have broken laws, rules and regulations.
| | - | ---------------------------------------------------------------------------------------------



| | · | An employee who knowingly violates the
internal policies and guidelines shall be subject to disciplinary action, including demotion or dismissal.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------



| | · | In case of any doubts in undertaking any
new role, assignment or responsibilities, please ensure all dos and don’ts are well understood, so as to avoid pleading ignorance
by overstepping on some protocols.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Investigations



You are required to cooperate
fully with authorised internal and external investigations. Making false (or misleading) statements to regulators/ auditors/ ICICI



Group representatives during
investigations can be a criminal act that can result in heavy penalties.



Dos and Don’ts



Do



| | · | Report to your supervisor/HR/compliance,
concerns and suspected violations of the Code, internal policies, external legal and regulatory requirements etc
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------



Don’t



| | · | Knowingly withhold information that raises
ethical questions and bring such issues to the attention of senior management or ensure reporting as per the applicable Whistle
Blower Policy
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Destroy records that are potentially relevant
to a violation of law or any litigation or any pending, threatened or foreseeable government investigation or proceeding
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------



Group Code of Business Conduct and Ethics17


ICICI Bank Limited


Special Responsibilities of Superiors
and Managers



In addition to responsibilities
as employees, supervisors and managers must abide by the:



| | · | Duty of selection - Carefully select the
employees for a job in light of their personal and professional qualifications. The duty of care increases with the importance
of the obligation to be entrusted to the employee.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Duty of instruction – Formulate obligations
in a precise, complete, and binding manner, especially with a view to ensure compliance with provisions of instructions.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Duty of monitoring - Ensure that compliance
with provisions of applicable laws / regulations is monitored on a constant basis.
| | - | ------------------------------------------------------------------------------------------------------------------------------



| | · | Duty of communication – Communicate
to the employees that any violations of the applicable laws/regulations are disapproved of and would have disciplinary implications.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Dos and Don’ts



Do



| | · | Strive to create and sustain an environment
that promotes ethical behaviour
| | - | ---------------------------------------------------------------------------



| | · | Assist your staff to understand and apply
the internal policies and procedures
| | - | ------------------------------------------------------------------------------



| | · | Encourage and practice whistle blowing,
so as to avoid any doubts later that an offence was being committed with your knowledge, which could be construed as connivance
by the employee
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Don’t



| | · | Issue directives to violate the terms of
internal policies/procedures
| | - | ---------------------------------------------------------------------



Compliance with Laws, Rules and Regulations



| | · | ICICI Group's Policy is to maintain an
open and co-operative relationship with our regulators and to comply with all applicable laws, rules and regulations. The Group
also disseminates information regarding compliance with laws, rules and regulations that affect business.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Accordingly the Bank has put in place the
Group Compliance Policy as approved by the Board of Directors.
| | - | --------------------------------------------------------------------------------------------------------



| | · | Violation of the law must be avoided under
any circumstances, especially violations that attract punishment of imprisonment, monetary penalties, or fines. Notwithstanding
the legal consequences of such violation, any employee found guilty will
be additionally liable to disciplinary actions, initiated by the company for violating the Code.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Group Code of Business Conduct and Ethics18


ICICI Bank Limited






| | · | Particular care should be taken to act
legally in those areas where the law is evolving rapidly or is being extended to cover activities that have not been covered by
legal requirements in the past. When in doubt, the Compliance Group should be consulted.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Independent Directors of the Bank shall
adhere to the duties as provided in Code for Independent Directors under Schedule IV of the Companies Act, 2013 as well as duties
as prescribed in the Companies Act, 2013 as amended from time to time which shall also form an integral part of the Code (attached
as Appendix) and all Directors and other employees shall ensure compliance with applicable laws, rules and regulations applicable
to them from time to time.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Dos and Don’ts



Do



| | · | Familiarise yourself with the ICICI Group
Compliance Policy
| | - | -----------------------------------------------------------



| | · | Comply with all applicable laws, rules
and regulations
| | - | ------------------------------------------------------



| | · | Contact with regulators through designated
officials as per internal guidelines
| | - | -------------------------------------------------------------------------------



| | · | Notify Compliance Group immediately of
any significant contacts made directly by a regulator
| | - | --------------------------------------------------------------------------------------------



Don’t



| | · | Commit an illegal or unethical act, or
instruct others to do so, for any reason
| | - | -------------------------------------------------------------------------------



| | · | Commit such acts simply because you see
someone else doing it, or your supervisor not warning you
| | - | -------------------------------------------------------------------------------------------------



Key IrregularitiesKey
Irregularities



| | · | While the Group believes that the employees
would realise and appreciate the need to follow this Code in letter and spirit, in an unfortunate incident or act of breach, a
corrective and/or deterrent action becomes unavoidable. Therefore any breach of the stipulations mentioned in the Code should be
treated as misconduct for which appropriate penalty would be imposed.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Based on the intent, seriousness and mitigating/extenuating
circumstances of such non-compliance the breaches can be broadly classified into four categories as detailed hereunder.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



A. Habitual Irregularities



Repeated negligence in performing
duties, depending on the gravity and consequences to the Company may fall under this category. Illustrative behaviour includes:



Group Code of Business Conduct and Ethics19


ICICI Bank Limited


| | · | Unpunctual or irregular attendance, leaving
workplace without permission, habitual or prolonged absence without leave
| | - | ---------------------------------------------------------------------------------------------------------------------



| | · | Negligence or failure to take due care
while obtaining and preserving documents/records
| | - | ---------------------------------------------------------------------------------------



| | · | Negligence or failure to ensure accuracy
and timely completion of work
| | - | ----------------------------------------------------------------------



| | · | Indecent/discourteous behaviour with customers,
employees, superiors etc
| | - | ------------------------------------------------------------------------



| | · | Not following the prescribed dress code
| | - | ---------------------------------------



| | · | Showing an intransigent or unreasonably
negative attitude to management and/or fellow employees
| | - | -----------------------------------------------------------------------------------------------



| | · | Minor breach of health and safety requirements
| | - | ----------------------------------------------



| | · | Smoking in a non-designated area
| | - | --------------------------------



| | · | Careless use of the Company’s equipment
or furniture
| | - | ----------------------------------------------------



| | · | Refusing to attend nominated training programs
unless agreed upon with superior
| | - | -------------------------------------------------------------------------------



| | · | Use of foul or abusive language (whether
verbal or in writing)
| | - | --------------------------------------------------------------



| | · | Refusing a reasonable request to moderate
changes in responsibilities if such a change is a business necessity
| | - | --------------------------------------------------------------------------------------------------------------



| | · | Being under the influence of alcohol and/or
drugs not medically prescribed when at work (whether on ICICI Group premises or otherwise)
| | - | --------------------------------------------------------------------------------------------------------------------------------------



| | · | Consumption or being under the influence
of drugs not medically prescribed and/or excessive alcohol at a management sponsored event
| | - | -----------------------------------------------------------------------------------------------------------------------------------



| | · | Indulging in habitual errors, negligence
while performing duties
| | - | ----------------------------------------------------------------



B. Gross/serious violations



Any act which is in breach
of the Code, internal policies/procedures and which may cause financial loss or reputation risk to the Company falls under this
category.



Illustrative behaviour under
this category includes:



| | · | Failing to comply with ICICI Group policies,
procedures, rules and working practices
| | - | ------------------------------------------------------------------------------------



| | · | Obstructing the customers from dealing
with ICICI Group or obstructing other employees from discharging their responsibilities
| | - | ------------------------------------------------------------------------------------------------------------------------------



| | · | Engaging in any other trade/ business/
employment while in the employment of the Company without confirming with your supervisor
| | - | --------------------------------------------------------------------------------------------------------------------------------



| | · | Participation in any demonstration against
the Company or its officials
| | - | -----------------------------------------------------------------------



| | · | Accepting gifts and favours from clients
and vendors in violation of relevant guidelines
| | - | ----------------------------------------------------------------------------------------



| | · | Disrupting/slowing down of continuous customer
service or work, in the branch or office –either solely or by way of participation in strike, bandh etc
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Violation of any of the provisions of the
security policy including Information Security Policy of the company
| | - | --------------------------------------------------------------------------------------------------------------



| | · | Taking a decision, which has financial
implications favouring you, any of your teams or relatives
| | - | -------------------------------------------------------------------------------------------------



| | · | Involvement in harassment including sexual
harassment or racial harassment
| | - | --------------------------------------------------------------------------



| | · | Failure to take all possible steps to protect
the interest of ICICI Group and to perform duties with utmost integrity, honesty, devotion & diligence
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Indulging in any act which is likely to
cause damage/loss to the property and which are prejudicial to the reputation and interest of ICICI Group
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Failure to act in the best judgment while
performing duties as well as while exercising delegated power entrusted by ICICI Group
| | - | --------------------------------------------------------------------------------------------------------------------------------



Group Code of Business Conduct and Ethics20


ICICI Bank Limited


| | · | Failure to avoid indebtedness in any manner
while in service
| | - | ------------------------------------------------------------



| | · | Engaging in and/or facilitating any financial
dealing/s including money lending whatsoever with colleagues
| | - | ----------------------------------------------------------------------------------------------------------



| | · | Any act which brings or have the potential
to bring dis-repute to the image of ICICI Group at all times
| | - | -------------------------------------------------------------------------------------------------------



| | · | Failure to comply with existing regulatory
rules and regulations such as Reserve Bank of India Act, 1934 and Banking Regulations Act, 1949, etc
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------



| | · | Any other act which is against the ethos/culture
of the company
| | - | ---------------------------------------------------------------



C. Fraudulent Irregularities



Any act with a fraudulent
or malafide intention irrespective of whether there was any financial loss or loss of reputation to ICICI Group falls in this category.
Some illustrative behaviour under this category would include:



| | · | Suppressing or misrepresentation of facts
| | - | -----------------------------------------



| | · | Any act of creation/acceptance of fake/
incorrect/ fraudulent records or manipulation of records with fraudulent intention i.e. fudging of records, MIS records, etc
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Failure of due diligence in any deal/transaction
to avoid any possibilities of a fraud or money laundering
| | - | ----------------------------------------------------------------------------------------------------------



| | · | Data theft or pilferage or any dishonest
act
| | - | --------------------------------------------



| | · | Involvement in any act in the area of corruption,
misuse of office, criminal offences, suspected or actual fraud etc
| | - | --------------------------------------------------------------------------------------------------------------------



| | · | Helping customers in ways which could lead
to a loss to ICICI Group
| | - | -------------------------------------------------------------------



| | · | Engaging in and/or facilitating any financial
dealings through your personal banking account. The Bank has issued Guidelines for “Operating Salary Account" by staff
for reference in this regard
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



The Bank is governed by
the Companies Act which as recently revised in August 2013 has defined the act of “fraud” under Section 447 and has
prescribed the penal provisions for the same. The same is given below:



Definition of Fraud:



“Fraud” in relation
to affairs of a company or anybody corporate, includes any act, omission, concealment of any fact or abuse of position committed
by any person or any other person with the connivance in any manner, with intent to deceive, to gain undue advantage from, or to
injure the interests of, the company or its shareholders or its creditors or any other person, whether or not there is any wrongful
gain or wrongful loss;



| | (i) | “Wrongful gain” means the gain
by unlawful means of property to which the person gaining is not legally entitled;
| | --- | -----------------------------------------------------------------------------------------------------------------



| | (ii) | “Wrongful loss” means the loss
by unlawful means of property to which the person losing is legally entitled.
| | ---- | ------------------------------------------------------------------------------------------------------------



Punishment for fraud:



Group Code of Business Conduct and Ethics21


ICICI Bank Limited


Without prejudice to any
liability including repayment of any debt under this Act or any other law for the time being in force, any person who is found
to be guilty of fraud, shall be punishable with imprisonment for a term which shall not be less than six months but which may extend
to ten years and shall also be liable to fine which shall not be less than the amount involved in the fraud, but which may extend
to three times the amount involved in the fraud.



Provided that where the
fraud in question involves public interest, the term of imprisonment shall not be less than three years.



Employees are requested
to be mindful of the above provisions and exercise necessary diligence.



D. Irregularities in
High Risk Areas



Any act which may not
be apparently with fraudulent intention but are considered as High Risk area irrespective of any financial loss or loss to
the reputation to ICICI Group falls in this category. This includes:



| | · | Failure to act in spite of having knowledge
of wrong things being practiced,
| | - | ----------------------------------------------------------------------------



| | · | Failure to take corrective steps to stop
such wrong practices,
| | - | --------------------------------------------------------------



| | · | Failure to escalate such matters to higher
authorities
| | - | ------------------------------------------------------



The areas considered, as High Risk will
be assessed by the Senior Management of the Group. The Senior Management will also have the power and authority to notify the list
of High Risk areas from time to time.



It must be noted that irregularities cited
in the above categories are indicative in nature and are not exhaustive.



Disciplinary Procedures



The following paragraphs
deal with the disciplinary procedures, which could be used as indicative guidance for the ICICI Group constituents while formulating
their respective disciplinary procedures.



| | · | The primary objective of the disciplinary
procedure is to make employees aware of the instance/s of apparent and reported breach of the Code on their part and to afford
such employees with an opportunity of making submission against such reported instance/s including improving their attendance,
work performance or amending/ rectifying their conduct as the case may be, should they fall below the standards expected by ICICI
Group.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | When deciding upon the appropriate
                                                                                                        way to deal with any potential issues an employee has in meeting ICICI Group standards, the reasons behind this difficulty
                                                                                                        will be considered. There may be occasions when problems are due to an employee’s incapability to do his/her job,
                                                                                                        personal circumstances or health rather than there being any measure of personal blame. In such cases, the employee will be
                                                                                                        informed by the immediate manager that he/she is not meeting the required standards.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Group Code of Business Conduct and Ethics22


ICICI Bank Limited






| | · | The immediate manager will discuss his
or her concerns with the employee and where appropriate, will agree objectives with the employee to be achieved over a reasonable
period of time. The immediate manager will also discuss any assistance the employee may require, including where practicable -
training. If after a reasonable time, an employee is still unable to reach the required standards, the matter may be dealt with
within the context of the disciplinary procedure.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | If the problem relates to the employee’s
health, the immediate manager may arrange for the employee to see ICICI Group nominated Medical Advisor.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------



| | · | If the problem stems from the employee’s
failure to demonstrate satisfactory conduct, or there are problems with the employee’s performance e.g. due to the employee’s
inattention or lack of motivation, the disciplinary procedure will be implemented.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Usually disciplinary procedure would start
after detailed fact finding exercise/internal investigation including one-to-one discussion with the concerned employee, where-ever
possible-by the respective business group, is carried out and a detailed report to that effect is submitted to HRMG. In deserving
cases such investigation may be carried out independent of the respective business group.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Disciplinary action



Depending upon the nature
and seriousness of non-compliant behaviour, the Company may take corrective action against the erring employees. The Company may
prefer civil or criminal action against errant employees. Such actions may include penalties as deemed appropriate considering
the nature of violation and its implications on the Company. The extenuating / mitigating circumstances, if any, may also be considered
while taking action.



These actions could be –
Cautionary Action, Deterrent Action and Capital Action



Cautionary action



The cautionary or exemplary
action(s) may be in the form of:



| | · | Condoning, advising, warning, censuring,
etc
| | - | --------------------------------------------



| | · | Imposition of fine
| | - | ------------------



| | · | Suspension from employment for a certain
period of time
| | - | -------------------------------------------------------



| | · | Adversely impacting annual performance
rating
| | - | ---------------------------------------------



| | · | Withholding of increment
| | - | ------------------------



| | · | Withholding of performance linked bonus
/ incentive (partly)
| | - | ------------------------------------------------------------



Deterrent action



The deterrent action(s)
may be in the form of:



Group Code of Business Conduct and Ethics23


ICICI Bank Limited


| | · | Recovery of full / partial monetary loss
caused or likely to be caused to the Company
| | - | -------------------------------------------------------------------------------------



| | · | Suspension from employment for a certain
period of time
| | - | -------------------------------------------------------



| | · | Withholding of increments
| | - | -------------------------



| | · | Withholding of Performance linked bonus
/ incentive
| | - | ---------------------------------------------------



| | · | Withholding of promotion
| | - | ------------------------



| | · | Demoting to the lower grade or level
| | - | ------------------------------------



| | · | Reduction in basic salary
| | - | -------------------------



Capital action



The capital action may be
in the form of:



| | · | Termination of services
| | - | -----------------------



| | · | Dismissal from services
| | - | -----------------------



| | · | Exit Through Resignation at the instance
of the Bank
| | - | ----------------------------------------------------



| | · | Compulsory Retirement
| | - | ---------------------



Process for taking disciplinary
action



| | · | It must be clearly understood that the
Company will be the sole judge to decide on the categorization of breaches as also the form of corrective actions.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | All disciplinary action would start on
the basis of the report received by the HRMG from the respective business group after following the process as described in the
foregoing.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Depending upon the nature of such report
employee/s would be informed in writing of the gist of the instance/s of breach of the Code reported against them and would be
afforded with an opportunity to make their submission/s in writing within specific time frame to the designated official in HRMG.
On receipt of such communication from HRMG employees would be required to make their submission/s in writing which would be taken
into consideration while arriving at a decision. However, in case employee/s choose not to avail of such an opportunity within
the specific time frame or within extended time frame, if allowed by HRMG in deserving cases, it would be construed that the employee
concerned has no submission to make and accordingly the matter would be decided upon ex-parte and any decision taken in that circumstances
would be binding on the concerned employee.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | HRMG of the Company would put in place
a matrix of Disciplinary Authority and the Appellate Authority to carry out all administrative/disciplinary actions envisaged under
the Code.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



For
ICICI Bank, India, a designated Disciplinary Authority will on the basis of reports submitted to it by an Investigating authority
and/orsuo-motoafter ensuring adherence
to due process initiate appropriate investigation and disciplinary proceedings/actions against an erring employee and impose penalty/ies
including but not limited to, placing an employee under suspension.



Group Code of Business Conduct and Ethics24


ICICI Bank Limited


An employee against
whom an order has been passed by a Disciplinary Authority, may, within seven working days from the date of receipt of the order,
prefer an appeal in writing to the Appellate Authority. Such written appeals, if received within the stipulated time, shall be
disposed of by the Appellate Authority by way of a detailed speaking order.



The Disciplinary
Authority and the Appellate Authority shall be as under –



|Grade                                                                                     | Disciplinary Authority    | Appellate Authority                          
|----------------------------------------------------------------------------------------- | ------------------------- | ---------------------------------------------
|Employee in the grades upto and inclusive of Chief Manager (Band I)                       | Assistant General Manager | Deputy General Manager                       
|Chief Manager (Band II) and Assistant General Manager                                     | Joint General Manager     | General Manager                              
|Deputy General Manager and Joint General Manager                                          | Senior General Manager    | Executive  Director                          
|General Manager, Senior General Manager (Band – I) and Senior General Manager – (Band II) | Executive Director        | Managing Director and Chief Executive Officer



| | · | The range of possible actions outlined
above should not be regarded as necessarily either sequential or cumulative. ICICI Group reserves the right to omit any or all
of the levels of action where it considers it appropriate. It is for the relevant manager to decide which of the possible responses
is appropriate in any given case. For example, if a single breach of discipline is serious (albeit it may be the employee’s
first breach of discipline) the employee may be given a final warning notwithstanding the fact that no previous warnings have been
given.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | ICICI Group reserves the right to suspend
an employee on payment of Subsistence Allowance as per rules pending the outcome of disciplinary action.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------



An employee of
ICICI Group entity incorporated in India, on suspension, shall be eligible to receive subsistence allowance at the rate of one
third of basic pay the employee was drawing on the day preceding to the date of suspension plus other allowances (except conveyance/
transport allowances) proportionately on such reduced basic pay for the first three months and at the rate of one half of the basic
pay the employee was drawing on the day preceding to the date of suspension plus other allowances (except conveyance/ transport
allowances) proportionately on such reduced basic pay from the fourth month till completion of disciplinary action or the revocation
of the suspension, as the case may be. This will however be subject to the applicable law, if any.



Group Code of Business Conduct and Ethics25


ICICI Bank Limited


Such subsistence
allowance would be payable to such an employee on his/her furnishing a declaration every month acceptable to the Company that he/she
is not engaged in any other employment, business, profession, or vocation or in any gainful activities, self-employment whether
or not having earned any income. An employee under suspension shall have to report to the company for the purpose of investigation/enquiry
as and when required by the company and shall not leave the station of his posting from where he was suspended without permission
of the competent authority.



Compliance with the
Code



| | · | ICICI Group recognises the need for this
Code to be applied equally to everyone it covers. All employees, Directors and officers are expected to comply with all of the
provisions of this Code. The Code will be strictly enforced and violations will be dealt with immediately, including subjecting
persons to corrective and/or disciplinary action such as dismissal or removal from office.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | The Group Compliance Officer will have
primary authority and responsibility for implementing this Code across the ICICI Group, subject to the supervision of the Board
Governance & Remuneration Committee or, in the case of accounting, internal accounting controls or auditing matters, the Audit
Committee of the Board of Directors. ICICI Group will devote the necessary resources to enable the Group Compliance Officer to
establish such procedures as may be reasonably necessary to create a culture of accountability and facilitate compliance with this
Code. Queries concerning this Code should be directed to the Group Compliance Officer. A facility to raise such queries has been
hosted on the Universe.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Employees, officers and Directors should
promptly report any concerns about violations of ethics, laws, rules, regulations or this Code, including by any senior executive
officer or director, to their supervisors/managers or the Group Compliance Officer or in the case of accounting, internal accounting
controls or auditing matters, the Audit Committee of the Board of Directors. Any concerns involving the Group Compliance Officer
should be reported to the Board Governance & Remuneration Committee.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | The Group Compliance Officer shall notify
the Board Governance & Remuneration Committee of any concerns about violations of ethics, laws, rules, regulations of this
Code by any senior executive officer or Director reported to him.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | You should report actions that may involve
conflict of interest to the Group Compliance Officer. In order to avoid conflicts of interest, executive officers and Directors
must disclose to the Group Compliance Officer any material transaction or relationship that reasonably could be expected to give
rise to such a conflict, and the Group Compliance Officer shall notify the Board Governance & Remuneration Committee of any
such disclosure. Conflicts of interest involving the Group Compliance
Officer shall be disclosed to the Board Governance & Remuneration Committee.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Group Code of Business Conduct and Ethics26


ICICI Bank Limited






| | · | ICICI Group encourages all employees, officers
and Directors to report any suspected violations promptly and intends to thoroughly investigate any good faith reports of violations.
ICICI Group will not tolerate any kind of retaliation for reports or complaints regarding misconduct that were made in good faith.
Open communication of issues and concerns by all employees, officers and Directors without fear of retribution or retaliation is
vital to the successful implementation of this Code. You are required to cooperate in internal investigations of misconduct and
unethical behaviour.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Interested parties may also communicate
directly with the Company’s non-management Directors through contact information mentioned in the Company’s Annual
Report or on the website.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Waivers and Amendments



Any waivers (including any
implicit waivers) of the provisions in this Code for executive officers or Directors may only be granted by the Board of Directors
and will be promptly disclosed to the shareholders. Any such waivers will also be disclosed in the Group’s Annual Report
under Indian law and its Annual Report on Form 20-F. Any waivers of this Code for other employees may only be granted by the Group
Compliance Officer. Amendments to this Code must be approved by the Board of Directors and will also be disclosed in the Company’s
Annual Reports.



Group Code of Business Conduct and Ethics27


ICICI Bank Limited
























Appendix



Duties of Directors as per Section 166
of the Companies Act, 2013:



| | 1. | Subject to the provisions of this Act, a director of a company shall act in accordance with the
articles of the company.
| | -- | ------------------------------------------------------------------------------------------------------------------------



| | 2. | A director of a company shall act in good faith in order to promote the objects of the company
for the benefit of its members as a whole, and in the best interests of the company, its employees, the shareholders, the community
and for the protection of environment.
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3. | A director of a company shall exercise his duties with due and reasonable care, skill and diligence
and shall exercise independent judgment.
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------



| | 4. | A director of a company shall not involve in a situation in which he may have a direct or indirect
interest that conflicts, or possibly may conflict, with the interest of the company.
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 5. | A director of a company shall not achieve or attempt to achieve any undue gain or advantage either
to himself or to his relatives, partners, or associates and if such director is found guilty of making any undue gain, he shall
be liable to pay an amount equal to that gain to the company.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 6. | A director of a company shall not assign his office and any assignment so made shall be void.
| | -- | ---------------------------------------------------------------------------------------------



| | 7. | If a director of the company contravenes the provisions of this section such director shall be
punishable with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees.
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Duties of Independent Directors as per
Schedule IV of the Companies Act, 2013:



The independent directors shall—



Group Code of Business Conduct and Ethics28


ICICI Bank Limited


| | 1. | undertake appropriate induction and regularly update and refresh their skills, knowledge and familiarity
with the company;
| | -- | --------------------------------------------------------------------------------------------------------------------------



| | 2. | seek appropriate clarification or amplification of information and, where necessary, take and follow
appropriate professional advice and opinion of outside experts at the expense of the company;
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3. | strive to attend all meetings of the Board of Directors and of the Board committees of which he
is a member;
| | -- | ------------------------------------------------------------------------------------------------------------



| | 4. | participate constructively and actively in the committees of the Board in which they are chairpersons
or members;
| | -- | -----------------------------------------------------------------------------------------------------------------



| | 5. | strive to attend the general meetings of the company;
| | -- | -----------------------------------------------------



| | 6. | where they have concerns about the running of the company or a proposed action, ensure that these
are addressed by the Board and, to the extent that they are not resolved, insist that their concerns are recorded in the minutes
of the Board meeting;
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7. | keep themselves well informed about the company and the external environment in which it operates;
| | -- | --------------------------------------------------------------------------------------------------



| | 8. | not to unfairly obstruct the functioning of an otherwise proper Board or committee of the Board;
| | -- | ------------------------------------------------------------------------------------------------



| | 9. | pay sufficient attention and ensure that adequate deliberations are held before approving related
party transactions and assure themselves that the same are in the interest of the company;
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10. | ascertain and ensure that the company has an adequate and functional vigil mechanism and to ensure
that the interests of a person who uses such mechanism are not prejudicially affected on account of such use;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 11. | report concerns about unethical behaviour, actual or suspected fraud or violation of the company’s
code of conduct or ethics policy;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------



| | 12. | acting within his authority, assist in protecting the legitimate interests of the company, shareholders
and its employees;
| | --- | --------------------------------------------------------------------------------------------------------------------------



| | 13. | not disclose confidential information, including commercial secrets, technologies, advertising
and sales promotion plans, unpublished price sensitive information, unless such disclosure is expressly approved by the Board or
required by law.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Group Code of Business Conduct and Ethics29


ICICI Bank Limited


Employee Declaration



(To be submitted to the HR at the time of
joining)



I Mr. /Ms. __________________________________________________
confirm and declare that:



| | · | I have read and understood the terms of
employment applicable to me and the provisions of the Group Code of Business Conduct and Ethics
| | - | ---------------------------------------------------------------------------------------------------------------------------------------



| | · | I shall, during the course of my service
with the Bank/Group companies or in the event of cessation of my service in the future, due to any reason whatsoever, for a period
of six months from the date of such cessation, directly or indirectly, either on my own accord or on behalf or in conjunction with
any other person/s, firm or company refrain/desist from canvassing or soliciting attempting to or inducing any employee(s) business
associate(s) to leave their current employment with the Bank/Group companies/ business partners to join the services of any new
employer/firm/company or any other competitor of the Group companies/ Business Partners.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | I am aware that any act in contravention
of the above provision on my part shall attract initiation of appropriate action as deemed fit by ICICI Group.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | I shall disclose the following details,
whenever required by the Company:
| | - | -------------------------------------------------------------------------



| | · | All bank accounts being held by me - either
singly or jointly with other family members
| | - | ---------------------------------------------------------------------------------------



| | · | Investment made in immovable property including
sale of such property
| | - | ---------------------------------------------------------------------



| | · | A statement that I have no material interest
or any other conflicting interests, in any person who is a party to a material contract or proposed contract with ICICI Group.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------



_______________________________________



Employee Signature



Date:









Group Code of Business Conduct and Ethics30