Panick withdrawls from ICICI Bank ATMs in Hyderabad

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Telugu Simham
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Joined: April 19th, 2004, 11:57 am

Panick withdrawls from ICICI Bank ATMs in Hyderabad

Postby webgeek » September 29th, 2008, 9:46 pm

TV9 is showing a footage of people forming lines outside ICICI Bank ATMs. The withdrawls are becoming inevitable with the RBI announcing that ICICI Bank is having exposure to Lehman Brothers holding. Public seems to be withdrawing money in panic which will actually put the bank into more difficult situation. No bank, including the larger SBI, can provide money instantly at the time of panic times such as these.

It is time, ICICI come out and give a statement on its position and give assurance to depositors failing which i think the withdraw process will continue. This is the second time during the month that such an incident is happening. And those who keep track of the stocks, ICICI Bank is one of the leading loser in todays trade. The stock seems to have lost about 12% of its value in todays trade.
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