Meanwhile, ICICI Bank has denied that there has been a sale of shares by its top management following the US financial crisis.
The bank said in a statement that "a malicious rumour is being spread to the effect that some of the top management have been selling ICICI Bank shares for the last few days. These rumours are baseless and irresponsible, and no shares have been sold by members of the top management of the bank during the current year."
"ICICI Bank is taking up this matter with regulatory authorities for necessary action against those responsible for the rumours.
Image: ICICI managing director K V Kamath of the ICICI Bank. | Photograph: Dirk Waem/AFP/Getty Images
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