Hi friends, for the past few days we have been hearing that our India's first Private bank ICICI is going to bankrupt. Do you all feel that it is true.
Yesterday with news from a leading TV channel in A.P, people in Hyderabad and at several places rushed towards ATM's of ICICI and other branches. At the same time other bank ATM's denied from with drawing cash for ICICI debit cards. This all lead to panic among customer and became a cumulative effect. First of all, we should know one thing that for any bank if all customers demand for money at a time, it is impossible for the bank to serve all the people as each bank used to have some limitations on ready cash.
Today ICICI announced that ICICC is not having any such problem and they are sending cash to all ATM's which are having funds shortage. So please do not be panic and if you need any information, please check with your bank bracnh offices.
They just invested only 200 crores of rupees in overseas markets for which they got bank guarantee from the securities of the overseas investors.
So do not woory and be happy...
A happy banking with ICICI.
Cheers
Chiru
Monday, September 29, 2008
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