[suresh_m1729@yahoo.co.in]

Loads and loads of emails are flying around in the Indian corporate sector - especially among the Indian IT workforce. The stories are going on baselessly that ICICI Bank may go Bankrupt. God knows the source of these stories, but there have been serious losses reported by ICICI Bank due to the Lehman Brothers Bankruptcy News <Lehman Brothers Bankruptcy: files for Bankruptcy under Chapter 11: Finance, Investments n Trading> . Out of the total reported losses of around 4 billion Rupees loss by Indian Banks <Lehman Brothers affect on Indian Banks: declare 4 billion Losses: Finance, Investments n Trading> collectively, 75% of those losses have been taken by ICICI Bank i.e. 3 billion Rupees have been lost by ICICI Bank alone - this news appears to form the basis of the rumors going around about the ICICI Bank going Bankrupt. ICICI Bank Bankrupt <Lehman+Brothers+affect+on+Indian+Banks+Losses.jpg (image)>

ICICI Bank Share price have gone down by a whopping14 percent <ICICI shares drop 14 pct as banks mauled | Business News | Reuters> in today's trading.
This has led to serious "mail-rumors" running around across the various IT industry workers. Few weeks back, when Lehman declared Bankruptcy, people queued up at ICICI Bank ATM and Bank Branches to withdraw their money. Now again, the IT employees are getting worried on these rumors. The biggest cause of concern is that most of the employees are having their Salary account with ICICI Bank. That will mean that majority of the liquid earnings of the employees will be kept with this bank.

Along with the ICICI officials, everyone hopes that this circus of rumors should come to an end. Savings bank account holders may not worry, as government will guarantee the return of their money in the savings account. In the past, around 4 years back, the GTB or Global Trust Bank had gone burst. It was later taken over by the OBC bank, a government run bank and all the savings account money was safe.

Hopefully, one should not see anything like this in the Indian Markets again. The banks are much better regulated.

[sukan]

Yes, Suresh..I believe Indian Banks r much Robust than US Banks and Reserve Bank is far much Regulated and Authorised than Federal Bank of USA

No person should believe Rumours that are spread by a anxilety person whose funds are dilapadeted due to his own brought in Risks for his(her) selfish needs & get panic instead should do some R & D...am I .correct?

[AjayKumar.Kataram]

yes suresh is right and also reserve bank of india has given assurance

[suresh_m1729@yahoo.co.in]

Yes Sukan, everybody should first do some R & D and then believe what people around are speaking....

[sukan]

Thank you