icici bankcruptcy in southern india

[SUNDARAM SUBRAMANIAN]

I just heard from the sources that ICICI BANKs in Southern Part of India has become bankcruptcy.

I just wanted to confirm what is the latest news about the same.

[Anuradha Venkatkrishnan]

I ama NRI account holder and hear that many account holders are withdrawing funds fearing bankruptcy. What is the latest update on this. I have a big exposure too.

[ABS]

I am a NRI based in the US. ARe the rumors about ICICI bank rupcy real??

[uttam hathi]

SUNDARAM SUBRAMANIAN wrote:

I just heard from the sources that ICICI BANKs in Southern Part of India has become bankcruptcy.
I just wanted to confirm what is the latest news about the same.

idiot in india bank branches do not go bankrupt,icici donot have seperate co for southern india(bank of madura is integrated in??) so what bankruptcy. high time the world follows a unified bankruptcy law read any paper on LLSV to understand better!, marauder are having a field day-i.e hedge funds, wonder why RBI does not open swap lins with euro and neutralise the arbitrage with EURO thus reducing the field day earnings of the foreign shorts, its completely artificial, REPEAT INDIAn CHINA are not ground zero for the second generation contagion happening

[MBA - Financial Wizard]

Dear loved ones. Please do not fear about anything. 112 million USD is not a big money for ICICI bank!!:) they have lost 112 million USD in Lehman Brothers and they will certainly come out of it soon. No one is gonna loose their hard earned money!! I have recently checked the Financials of ICICI and all looks fine. Dont panic please. All would be fine soon. Be Bindaas!!

Love you all.

[MBA - Financial Wizard]

Please do not humiliate others by using hard words. We are here to discuss on certain topics.. so please be professionals and behave in the right maner...

God bless you all....

[Ranjan T - IT Pro]

I m little concerned about whats going in the twin cities(hyd/sec-bad). is it a rumour that ICICI is going to file bankruptcy or people misunderstood the Lehman Brothers bankruptcy but i have seen 100s of people outside every ICICI ATMs withdrawing money,ICICI atm cards are not working in other bank ATMs(personally checked in HDFC,AXIS ATM).I haven't checked if Net Banking is working,but some said that even that is not working.
-May i get some clarity on the situation and if someone could throw some light on the impact of such huge withdrawals.
Regards

[pawan kumar]

don't worry just wait and watch, its all

[Purushotham]

I'ts just rumours nothing will happen.....

[GnanPra]

SUNDARAM SUBRAMANIAN wrote:

I just heard from the sources that ICICI BANKs in Southern Part of India has become bankcruptcy.
I just wanted to confirm what is the latest news about the same.

ICICI is a big bank, had it to go bankrupt, the Indian economy would come to a huge drop recovering from which would be another Freedom fight.
I believe, the Govt. would pump in funds to avoid the impact on economy.
Also as someone rightly mentioned below, a 112 MM investment for ICICI is not a very big loss - I am sure the company has provisions for such losses.

[Vikram Kumar]

Yes,
Panic makes things worsen. Just be cool. Every thing is going to be fine! Don't bring pressure on banks! being educated, we have to behave properly at this time.
I can under stand that, every penny that you earn is important, but taking worse decision now may even lesser the chance of getting back your penny.

Cheers,
Vikram

[Aditya]

What Ever the News Might be If you can reach a near by HSBC Bank ATM you can get the Money out of your ICICI Bank Card. All other n/wed branches seems to have a problem

[sri]

Don't worry nothing will happen

[suresh]

it seems to be the hot news in chennai everyone is rushing the atm's to get the money

[Ritesh]

Why In Hyderabad People are withdrawing therir money from ICICI BANK , Is it safe to be with the Bank for longer time ??

[Ranjan T - IT Pro]

i wasn't worried at all to begin with, but when friends n family started calling to withdraw money, and the huge queues at the ATMs, i got a little impatient...i Hope this passes like a bad dream.

[Satya]

Am not understanding ... 25k can be withdrawned in a day at ATM......

Whats the point in rushing to ATM's ( if they have to protech their money ???)

[Abhishek]

It is same in north india also i want to confirm bcz we cant go now to atm plz advice correctly ...

[Abhishek]

If the rumor is not correct then y all of sudden everyone in country doing the same i mean withdrawing the amount at a time.. is it rumor really correct

[Abhishek]

Can u give me the correct idea actually wats going on ???????/