RBI to the rescure
Stepping in to stem the tide following the run-on ICICI Bank in some parts of the country, the Reserve Bank of India on Tuesday said the largest private lender has sufficient liquidity and the organisation was well capitalised.
"There are reports in some sections of the media that based on rumours regarding the financial strength of ICICI Bank, depositors are withdrawing cash at its ATMs and branches in some locations," the RBI said in a statement.
Image: Image: Reserve Bank of India Governor Duvvuri Subbarao (R) smiles during a press conference in Mumbai. | Photograph: Indranil Mukherjee/AFP/Getty Images
Also read:
Google's amazing journey
Advertisement
