Despite reassurances, there is negative sentiment about ICICI Bank’s financial position.
The recent episodes represent a temporary phenomenon caused by rumour- mongering. The market situation appears to have been deliberately used by some elements to spur a malicious campaign against us. The rbi has stated that the bank has a sound financial position; rating agencies have reaffirmed their ratings of the bank.
What measures have you taken?
We have informed the regulators of the various episodes we have seen and filed a formal complaint with the enforcement authorities. We would continue to monitor the situation.
What about concerns on the bank’s high credit-deposit ratio?
We have explained the correct position in detail to our stakeholders and would continue to do so. Our capitalisation, balancesheet structure and liquidity position are comfortable.
What are your views on the liquidity crisis?
The liquidity issue arose out of global developments where inflows and credit lines from FIs...