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|   |   | ICICI Bank Limited |
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|   | Topic                                              | Page No.  |
|--------|----------------------------------------------------|-----------|
| 1.     | Preamble                                           | 02        |
| 2.     | Conflicts of Interest and Outside Activities       | 03        |
| 3.     | Privacy / Confidentiality                          |   05 |
| 4.     | Gifts and Entertainment                            |      | 07 |
| 5.     | Personal Investments                               |      | 08 |
| 6.     | Know Your Customer / Anti Money Laundering         | 09        |
| 7.     | Accuracy of Company Records and Reporting          |      | 10 |
| 8.     | Protecting ICICI Group's Assets                    |      | 11 |
| 9.     | Workplace Responsibilities                         |      | 11 |
| 10.    | Raising Ethical Issues                             |      | 15 |
| 11.    | Special Responsibilities of Superiors and Managers | 16        |
| 12.    | Compliance with Laws, Rules and Regulations        | 16        |
| 13.    | Key Irregularities                                 |      | 17 |
| 14.    | Disciplinary Procedures                            | 20        |
| 15.    | Compliance with the Code                           | 23        |
| 16.    | Employee Declaration                               | 25        |

| Group Code of Business Conduct and Ethics | 1 |
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| • | 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 polices. |
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| • | 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. |
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| • | 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. |
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| • | You must conduct your duties according to the language and spirit of this Code and seek to avoid even the appearance of improper behaviour. 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. |
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| • | 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. |
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| Group Code of Business Conduct and Ethics | 2 |
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| · | 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. |
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| · | 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. |
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| · | 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. |
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| · | 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. |
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| · | 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. |
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| · | Examples of situations that could involve conflicts of interest include: |
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|   | o | Selling a product that is profitable for the Group but not appropriate for the customer; |
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|   | 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; |
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|   | 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; |
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|   | o | Working, in any capacity, for a competitor, customer, supplier or other third party while employed by ICICI Group; |
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| Group Code of Business Conduct and Ethics | 3 |
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|   | o | Competing with ICICI Group for the purchase or sale of property, products, services or other interests; |
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|   | 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); |
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|   | o | Receiving a loan or guarantee of an obligation as a result of your position with the Bank; |
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|   | o | Directing business to a supplier owned or managed by, or which employs, a relative or friend. |
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| · | Affect or appear to affect your ability to make unbiased business decisions for ICICI Group; |
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| · | 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); |
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| · | Be in the businesses of ICICI Group’s customers, suppliers, or competitors that could cause divided loyalty, or even the appearance of divided loyalty. |
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| · | 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. |
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| · | Working with professional organisations/ associations does not typically create a conflict of interest where : |
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|   | o | The work is related to the legitimate professional interest and development of the employee and does not interfere with the employee’s regular duties; |
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|   | o | Does not use official resources inappropriately (either physical resources or time); |
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| Group Code of Business Conduct and Ethics | 4 |
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|   | o | Does not compete with the work of ICICI Group and is not otherwise contrary to the best interests of the Group; |
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|   | o | Does not violate national, international or local law. |
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| · | 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. |
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| · | Act in the best interests of ICICI Group and its customers and handle activities, interests or relationships in a sensible manner |
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| · | Handle conflicts of interest as per applicable Conflicts of Interest Framework |
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| · | Submit an annual statement of Conflicts of Interest to the HR of your Company |
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| · | Undertake personal investments or outside activities or involve in any financial transaction with colleagues, customers or suppliers that would create conflicts of interest |
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| · | You must always protect the confidentiality of proprietary and confidential information 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. |
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| · | Proprietary and confidential information include any system, information or process that gives ICICI Group an opportunity to obtain an advantage over competitors; non public information about ICICI Group businesses, its customers and its employees, any other non public information received. |
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| · | Proprietary and confidential information about ICICI Group, a customer, supplier or distributor, should not be disclosed to anyone (including other employees) not authorized to receive it or has no need to know the information, unless such |
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| Group Code of Business Conduct and Ethics | 5 |
|-------------------------------------------|---|

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| · | 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 must also be protected. |
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| · | 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. |
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| · | Acts of ignorance that could lead to such proprietary information, especially through electronic means – like CDs, floppy etc., may lead to investigation and probe against the employees. |
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| · | We, at ICICI Group, respect the proprietary rights of other companies and their proprietary information and require you also to observe such rights. |
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| · | Properly control access to your work areas and computers |
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| · | Ensure appropriate destruction of business related documents when not required for work anymore |
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| · | Obtain any relevant information directly from the person concerned |
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| · | Protect the physical security of official information |
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| · | Access to information or data by outsourced will also be subjected to the relevant employee’s accountability, in case such data is misused |
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| · | Keep customer information secured at all times and uphold ICICI Group Privacy promise for customers |
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| · | Limit access to information strictly to those with a legitimate business reason for seeking that information |
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| · | Comply with local data protection and privacy laws that affect the collection, use and transfer of personal customer information |
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| · | While accessing Intranet and Internet, ensure compliance with internal policies and procedures |
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| Group Code of Business Conduct and Ethics | 6 |
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| · | Ensure that worldwide electronic information exchange and dialogue, electronic business dealings are all as per internal policies and procedures |
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| · | Discuss sensitive matters or confidential information in public places |
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| · | Violate the IT security policy applicable to your Company |
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| · | 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 |
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| · | Pass information, in any manner, directly or indirectly to any recruitment/search agencies or to competitor or any other organisations |
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| · | 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: |
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|   | · | Gifts |
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|   | · | Entertainment and Sponsored Travel |
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|   | · | Incentives offers received at the Bank's Level |
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| · | Bribery/Corruption is defined as receiving or offering of an undue reward from/to any third party. |
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| · | You must note that ICICI Group follows zero tolerance approach towards Bribery and Corruption. |
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| · | 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. |
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| · | 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. |
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| Group Code of Business Conduct and Ethics | 7 |
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| · | 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. |
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| · | 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. |
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| · | Accept a gift only if it is in line with the Code and the Operational Guidelines for Acceptance of Gifts Entertainment & Sponsored Travel |
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| · | Adhere to Bank’s Anti-Bribery & Anti-Corruption Policy |
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| · | Make any payment to or for anyone that could tantamount to bribe/corruption |
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| · | 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. |
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| · | 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. |
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| · | 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. |
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| · | You are required to familiarise yourself and comply with the Bank's Code of Conduct for Prevention of Insider Trading (or such other Code applicable to your Company), copies of which are available on the Intranet or from the Company Secretary. You should contact the Company Secretary with any questions about your ability to buy or sell securities. |
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| · | Investments in securities should be made as per the Insider Trading Code, of the respective company. |
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| Group Code of Business Conduct and Ethics | 8 |
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| · | Ensure adherence to the Code for Prevention of Insider Trading applicable to your Company |
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| · | Handle personal investments while in possession of “Insider information” |
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| · | Money Laundering legislations criminalize money laundering in respect of all crimes including drug trafficking, terrorism, theft, tax evasion, fraud, handling of stolen goods, counterfeiting and blackmail. It is also an offence to undertake and/or facilitate transactions with individuals and entities involved in criminal activities. |
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| · | ICICI Group does not do business with drug traffickers, money launderers and other criminals. We are fully aware that no customer relationship is worth compromising our commitment to combating money laundering. |
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| · | ICICI Group has adopted the Group Anti Money Laundering Policy accompanied by detailed procedures with the principal objectives as under: |
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|   | o | Preventing ICICI Group from being used by money launderers to further their illicit business; |
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|   | o | Enabling ICICI Group to assist law enforcement agencies in identifying and tracking down money launderers; |
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|   | o | Ensuring that ICICI Group remains compliant with all relevant anti-money laundering legislation and regulations. |
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| · | 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 credit and character of customers and counter parties. 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. |
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| · | Ensure adherence to the Group Anti Money Laundering Policy |
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| · | Undergo relevant training to update yourself on applicable internal KYC/AML guidelines |
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| Group Code of Business Conduct and Ethics | 9 |
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| · | Exercise requisite due diligence while accepting a customer and undertaking a transaction and make reasonable enquiries in case of doubt |
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| · | Escalate all suspicious activities/ transactions in respect of money laundering 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 |
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| · | Provide assistance to any person to launder proceeds of any criminal conduct |
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| · | Prejudice an investigation by informing (i.e. tipping off) the person who is the subject of a suspicious transaction |
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| · | 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. |
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| · | 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. |
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| · | You must observe standards of good taste 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. |
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| · | 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. |
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| · | ICICI Group has a responsibility to communicate effectively with shareholders so that they are provided with full and accurate 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. Hence, such reports and any other public communications should be full, fair, accurate, timely and understandable. |
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| · | You must, therefore, never make inaccurate or misleading reports, certificates, claims or statements to government / regulatory authorities. |
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| Group Code of Business Conduct and Ethics | 10 |
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| · | Maintain accurate data in sufficient detail to reflect accuracy of company transactions |
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| · | Assist in preparation of true and fair financial statements of the company |
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| · | Crosscheck the reports being submitted to regulatory authorities; in case there are any errors found, report to the relevant authority |
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| · | Make inaccurate reports to the applicable government / regulatory authorities |
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| · | Use ICICI Group assets (physical and intellectual) only for official purposes |
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| · | Report any misuse by any employee or outsourced agents of ICICI Group that comes to your notice |
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| · | Copy, sell, use or distribute information, software and other forms of intellectual property in violation of licenses |
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| · | Misappropriate ICICI Group assets as it is a breach of your duty and may constitute an act of fraud against ICICI Group |
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| · | Use official resources in another business in which you, a friend or family member is involved |
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| · | Use official stationery, supplies, and equipment for personal or political matters |
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| · | 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 |
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| Group Code of Business Conduct and Ethics | 11 |
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| · | 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. |
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| · | Although it is common to gather information about the general marketplace, including competitors' products and services, the Company wants to compete fairly. |
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| · | You should ensure that your workplace is healthy and productive and free from drugs. |
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| · | 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. |
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| · | ICICI Group has a Gender Neutral 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. |
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| · | 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. |
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| · | 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. |
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| Group Code of Business Conduct and Ethics | 12 |
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| · | Your work environment, therefore, must conform to the requirements of health oriented safety design and you must constantly be attentive to safety principles. |
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| · | 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. |
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| · | 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. |
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| · | 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. |
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| · | Vendors or suppliers should not be used for any personal purposes, so as to have any conflict of interest while dealing with them. |
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| · | 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. |
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| · | 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. |
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| · | 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. |
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| Group Code of Business Conduct and Ethics | 13 |
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| · | 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. |
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| · | 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. |
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| · | Bank’s Social Media Policy lays down standards employees should adhere to while communicating internally, externally as well as online. |
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| · | Ensure that external, internal & online communications are in line with the Bank’s Social Media Policy |
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| · | Respect personal dignity, privacy, and personal rights of every individual |
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| · | Work together with women and men of various nationalities, cultures, religions, and races in a professional manner |
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| · | Be open and honest and stand by your responsibility |
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| · | Treat our customers, suppliers, competitors and employees fairly |
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| · | Maintain the safe and healthy working environment provided by the company |
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| · | Be committed to prevent wasteful use of natural resources |
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| · | Discriminate, harass or offend anybody by whatever means, be it sexual or otherwise |
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| · | 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 |
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| · | Obtain competitive information by unethical or illegal means, such as corporate espionage or improper access to confidential information |
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| · | 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 |
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| · | Take unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts or any other unfair dealing practice |
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| · | Do not issue directives to violate the terms of vendor’s contracts |
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| Group Code of Business Conduct and Ethics | 14 |
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| · | 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. |
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| · | ICICI Group will conduct prompt and thorough investigations of alleged violation and take appropriate corrective action. |
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| · | Retaliatory action against an employee for making a good faith report is prohibited. |
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| · | HR takes appropriate actions against individuals who have broken laws, rules and regulations. |
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| · | An employee who knowingly violates the internal policies and guidelines shall be subject to disciplinary action, including demotion or dismissal. |
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| · | 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. |
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| · | Report to your supervisor/HR/compliance, concerns and suspected violations of the Code, internal policies, external legal and regulatory requirements etc |
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| · | 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 |
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| · | Destroy records that are potentially relevant to a violation of law or any litigation or any pending, threatened or foreseeable government investigation or proceeding |
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| Group Code of Business Conduct and Ethics | 15 |
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| · | 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. |
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| · | Duty of instruction – Formulate obligations in a precise, complete, and binding manner, especially with a view to ensure compliance with provisions of instructions. |
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| · | Duty of monitoring - Ensure that compliance with provisions of applicable laws / regulations is monitored on a constant basis. |
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| · | Duty of communication – Communicate to the employees that any violations of the applicable laws/regulations are disapproved of and would have disciplinary implications. |
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| · | Strive to create and sustain an environment that promotes ethical behaviour |
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| · | Assist your staff to understand and apply the internal policies and procedures |
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| · | 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 |
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| · | Issue directives to violate the terms of internal policies/procedures |
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| · | 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. |
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| · | Accordingly the Bank has put in place the Group Compliance Policy as approved by the Board of Directors. |
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| · | 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 |
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| Group Code of Business Conduct and Ethics | 16 |
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| · | 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. |
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| · | Familiarise yourself with the ICICI Group Compliance Policy |
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| · | Comply with all applicable laws, rules and regulations |
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| · | Contact with regulators through designated officials as per internal guidelines |
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| · | Notify Compliance Group immediately of any significant contacts made directly by a regulator |
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| · | Commit an illegal or unethical act, or instruct others to do so, for any reason |
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| · | Commit such acts simply because you see someone else doing it, or your supervisor not warning you |
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| · | 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. |
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| · | 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. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | 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 |
|--------|------------------------------------------------------------------------|

| Group Code of Business Conduct and Ethics | 17 |
|-------------------------------------------|----|

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| · | 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 |
|--------|------------------------------------------------------------------|

| · | 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 IT 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 |
|--------|----------------------------------------------------------------------------------------------------------------------------------|

| · | 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 |
|--------|------------------------------------------------------------------------------------------------------------|

| Group Code of Business Conduct and Ethics | 18 |
|-------------------------------------------|----|

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| · | 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 |
|--------|-----------------------------------------------------------------|

| · | 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 |
|--------|------------------------------------------------------------------------------------------------------------|

| · | 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 |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | 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 |
|--------|--------------------------------------------------------|

| Group Code of Business Conduct and Ethics | 19 |
|-------------------------------------------|----|

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| · | 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. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | 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. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Group Code of Business Conduct and Ethics | 20 |
|-------------------------------------------|----|

----

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| · | 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) |
|--------|--------------------------------------------------------------|

| · | 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 |
|--------|---------------------------|

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

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

| · | 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 |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Group Code of Business Conduct and Ethics | 21 |
|-------------------------------------------|----|

----

----

| · | 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. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Grade                            | Disciplinary Authority  | Appellate Authority   |
|----------------------------------|-------------------------|-----------------------|
| Employee in the grades upto      | Assistant General       | Deputy General        |
| and inclusive of Chief           |
| Manager                          | Manager                 |
| Manager (Band I)                 |
|                             |                    |
| Chief Manager (Band II) and      | Joint General           | General Manager       |
| Assistant General Manager        | Manager                 |
|                             |
| Deputy General Manager           | Senior General          | Executive Director    |
| and Joint General Manager        | Manager                 |
|                             |
| General Manager, Senior          |                    |                  |
| General Manager (Band – I) | Executive Director      | Managing Director and |
| and Senior General Manager       | 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 not withstanding the fact that no previous warnings have been given. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Group Code of Business Conduct and Ethics | 22 |
|-------------------------------------------|----|

----

----

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

| · | 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 |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Group Code of Business Conduct and Ethics | 23 |
|-------------------------------------------|----|

----

----

| · | 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. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | 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. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Group Code of Business Conduct and Ethics | 24 |
|-------------------------------------------|----|

----

----

| · | 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. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Group Code of Business Conduct and Ethics | 25 |
|-------------------------------------------|----|