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ICICI Bank alleges 'SMS economic terrorism'
By: Agencies

Mumbai: Battered by rumours that cast doubts about its financial health, ICICI Bank yesterday approached the police alleging that certain brokers with a Mumbai-based brokerage house were indulging in "malicious" rumour mongering.
 
Terming it as "economic terrorism", an ICICI Bank spokesman said, "We will be approaching all regulators, including SEBI, on this."

ICICI Bank scrips have suffered heavy losses including 20 per cent on Friday in the face of onslaught of rumours, though the largest private sector lender has been maintaining that it was facing no crunch and its financial position was strong.

According to the complaint, one such sms reads, 'Kindly withdraw all your deposits and cash in account with ICICI Bank, as ICICI Bank already rushed to RBI for insolvency.'

ICICI Bank Managing Director K V Kamath has already talked to Finance Minister P Chidmabaram about the issue.








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