Is ICICI going bankrupt [Indians please advice]

Nothing is going to happen to ICICI. Don't worry at all.
If you see such rumors again, go buy some ICICI shares.. for intraday (or short term) profit.
I did just that today.

 

ICICI is not a small bank and i don't know where u read about it,nothing gonna happen.

 

I don't know why ICICI targetted every now and then...

 

ICICI is India's largest private sector bank and thus is present everywhere.

If someone would start such a rumour about SBI (India's largest bank), no one would believe it as SBI is a government bank. (Most people feel that government will never let its own bank fail).

ICICI is not exactly a customer-friendly bank and I guess it has the largest number of dissatisfied customers....

I guess it is these people who love to spread such rumours and damage ICICI's reputation.

Another reason may be that ICICI is an aggressive bank - it loves to take calculated risks and sometimes ends up with losses.

ICICI bank's UK subsidiary lost a few million dollars when Lehman brothers collapsed. I am sure it will lose more if US's economic condition worsen.

These losses may be small compared to the balance sheet of ICICI bank, but an average customer feels insecure when his bank reports such losses.

Such customers panic at any sign of further trouble and move out their money from the bank.

IMO ICICI has become too big and too important for the Indian economy.

RBI will never allow such a large bank to go bankrupt.

GTB (Global Trust Bank) was a tiny bank compared to ICICI bank and yet RBI made sure that its customers get their money back.

GTB had troubles for a long time before it went down.

Currently, ICICI has no major problems and I don't see why anyone should worry about it.

 

Its just a rumour.. I have my salary account in ICICI bank and my company people and ICICI bank have mailed me that there is no such situation. Read their Press release.

 

Nice information about ICICI bank

I too dont know whay ppl in India think they will go bankrupt?

They are one among the highest Interest chargers & they will stay for long

 

Its just a rumour they are facing some problems dunno what but they arent shutting down

 

It is foolish to say that ICICI has no relations with US banks

You better believe once the US goes under other countries will go down with it

 

They do have investments in US.. but that doesnt mean they are going bankrupt coz they have investments in many other countries too

 

Well I wasn't implying that India will collapse with it, I just meant in general.

 

I was working with ICICI Bank in their treasury division till June this year and can assure you that ICICI Bank is not likely to go bust anytime in the near future. It is the largest bank in India in terms of market capitalization. It can raise funds through a rights issue or a follow on public issue at any point, if it decides to. The losses suffered by ICICI Bank due to its positions in the US mortgage market is less than 1% of its net assets.

People have become totally paranoid hearing about the crisis going on in the US. Not many people are even aware of the fact that, upto 1 lakh, all deposits are covered under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme.

btw, did you know that today's stock market rally was lead by ICICI Bank!

 

This is not true. The fundamentals of banking sector in India is too strong. They are not as vulnerable as their US counterparts. So my friend there is no need to worry at all.

 

http://www.groundreport.com/World/RBI-Says-No-need-to-worry-about-ICICI-Banks-liquid

 

Thanks for sharing such wonderful stuff. every one who is worried about ICICI just go thru this report.

 

Why risk your hard earned money ?....just give it all to me and I will keep it very safely in my bank account

 

Keep it in a wad of cash under your bed in ICICI isn't for you

 

These are just rumors.no problem with ICICI bank.ICICI bank is the strong bank.