ICICI Bank wants SEBI to take action against rumours

ICICI Bank has filed the petition to SEBI to check if there was a concerted attempt to hammer its share price. A senior bank employee said that the country’s second largest bank ICICI bank has approached the market regulator SEBI during the last fortnight after rumours started surfacing about the bank’s overseas exposure and a run on its deposits.

In the past two weeks rumours prompted the peoples to withdraw their money from its offices and ATM's. First it happened in tamilnadu some two weeks back ago and this rumours spread all over india.Managing Director & CEO KV Kamath on Tuesday issued a statement saying the bank is well capitalised and financially sound "It has a networth of over Rs 47,000 crore and a capital adequacy ratio of 13.4 per cent on June 30, 2008, as against the regulatory requirement of 9 per cent.This reflects the healthy capital position and comfortable level of leverage. Its banking and non-banking subsidiaries are also well-capitalised," the ICICI bank added.