'ICICI Bank has sufficient liquidity' | india | Hindustan Times
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'ICICI Bank has sufficient liquidity'

india Updated: Sep 30, 2008 13:29 IST

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RBI said on Tuesday that ICICI Bank has sufficient liquidity to meet the needs of its depositors, and that the bank and its subsidiary banks abroad were well capitalised.

"There are reports in some sections of the media that based on rumours regarding the financial strength of ICICI Bank, depositors are withdrawing cash at its ATMs and branches in some locations," the central bank said.

"It is clarified that the ICICI Bank has sufficient liquidity, including in its current account with the Reserve Bank of India, to meet the requirements of its depositors," it said.

"The Reserve Bank of India is monitoring the developments and has arranged to provide adequate cash to ICICI Bank to meet the demands of its customers at its branches/ATMs."

Shares in ICICI Bank rose to be up more than 5 per cent after the statement. They had opened trade on Tuesday down 7.2 per cent at their lowest level in more than two years.