ICICI files anti-rumour complaint | business | Hindustan Times
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ICICI files anti-rumour complaint

The ICICI Bank filed a complaint with the economic offences wing of the Mumbai Police against unnamed brokers and websites that were creating panic by spreading rumours about the financial health of the bank.

business Updated: Oct 13, 2008 00:03 IST

The ICICI Bank on Sunday filed a complaint with the economic offences wing of the Mumbai Police against unnamed brokers and websites that were creating panic by spreading rumours about the financial health of the bank.

“Our investigations establish a Tirupur-based sub-broker of Motilal Oswal was responsible for spreading rumours by sending SMSes with wrong information about the financial health of the bank,” said an ICICI Bank source.

The concerted effort to spread malicious rumours could be new form of economic terrorism, the spokesperson added.

One of the SMS listed in the complaint read, "kindly withdraw all your deposits and cash in account with ICICI Bank as ICICI bank already rushed to RBI for insolvency."

The complaint, which was also filed before Coimbatore Police, said that "a broker/sub-broker (of major securities broker based in Mumbai) had been the origin of various sms" spreading wrong information about the financial health of the bank.

The accused are trying to spread false, baseless and malicious rumours about the financial status of the bank that contain knowingly false, baseless and incorrect statements against the bank that can lead a lay public astray, said the complaint. These rumours, it added, are being spread with the intention of undermining the faith and confidence depositors and investors.