ICICI Bank! Is it in a bad shape? Lots of talk about this Bank going to Close? How far is it true?

RBI is protecting them. Finance Minister is also protecting them. They have taken a bad hit in the recent USA crisis. Their NPA level in retail finance & agriculture very high? They have hided the Rs 1800 crores hit they took in warehouse receipt scam? Attrition rate is high. Public is loosing confidence in some part of India.What will happen after Mr. kamath retires in 2009?

5 Replies to “ICICI Bank! Is it in a bad shape? Lots of talk about this Bank going to Close? How far is it true?”

  1. nothing will happen if it happens reliance will take over and name will be change to RBI Reliance Bank of India.

    If you have account in it and fear of the bank failure remove your money from it. If no fear let it be nothing is going to happen to the bank

  2. Your concerns are very much true! Buy do not worry. As RBI has made it very clear and so has our Honourable FM, that the audit being conducted on ICICI is only a SPECIAL AUDIT.
    This Audit is purely for judging the exposure of ICICI to US finanacial institutions that are in doldrums.

    If a normal and regular audit was to be conducted, then the question of its Financial Stability or Finanacial Soundness would have arised. In this case, the audit being special there is nothing to worry. It is infact a Safety Measure to endorse Investor and Despositor Confindence.

    As regards Mr KV Kamath’s retirement, a huge institution like ICICI will surely have its SUCCESSION PLANNING in Place. Their hunt for the next head, is already on rounds, so ICICI will get a excellent successor post Mr Kamath retirement.

  3. ICICI bank has a name similar to a large global insitution.
    It should not be taking money from UK citizens and advertising as if it is a UK bank investing in the UK.

    People don’t know it’s an Indian Foreign bank when they sign up for an account through a UK comparison site.

    Let Indian people and friends of India invest in ICICI but for the British it’s just another Icesave and the government will catch on and ask why should they protect deposits of an Indian bank that doesn’t invest in this country.

    British people should be investing in UK banks and building societies in these hard times.

    ICICI bank is taking cheap money and siphoning it to India where nobody knows what happens to it.

    It’s not the time to take funds we don’t have out of the country.

    The bank is taking advantage of people offering high interest rates. High interest equals high risk and not to be trusted.

    There are plenty of Indian people answering questions about this bank. We are mixed society in the UK so beware of answers promoting ICICI.

    You would not promote this bank unless you are Indian or have special interest in India.

    If you were scared by Icesave be scared with ICICI.

  4. Relax. Don’t worry. Your deposits are insured by RBI upto Rs. 1 lacs per account. The details are in RBI’s FAQs.

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