The Hindu : ICICI Bank 'stable'

Online edition of India's National Newspaper
Sunday, Apr 13, 2003

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ICICI Bank 'stable'

Mumbai April 12. The Reserve Bank of India today clarified that the ICICI Bank's financial position was sound and that the bank had sufficient liquidity in its current account with the RBI to meet the requirements of its depositors.

``The RBI is monitoring the developments and has arranged to produce adequate cash to the ICICI Bank to meet the demands of its customers at the branches and ATMs,'' the apex bank said in a statement here.

The statement follows reports in the media, based on rumours, that the bank was facing liquidity problems and depositors were withdrawing cash at its ATMs and branches in Gujarat.

PTI

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