ICICI Bank has no liquidity problem as it has Rs 90,000 crore (Rs 900 billion) in government securities, besides the global subsidiaries have $2.5 billion in cash, country's leading private sector lender's chief executive K V Kamath said.
"We have Rs 90,000 crore investment in government securities... As of Friday (October 10) we did not borrow from the call market... our global subsidiaries are with $2.5 billion of cash," Kamath told NDTV. Global meltdown: Complete coverage Asked whether ICICI Bank is being targeted, Kamath said "you spread a rumour the stock reacts... someone is trying to build a vicious circle...there is an organised attempt to spread rumour." Explaining about the safety of depositor's money, he said, "I assure you they are safe... we have a cash adequacy ratio of 150 per cent of the normal requirement... the bank is liquid." Clarifying further, he said, "We have a very small exposure in the US. None at all in sub-prime. We are well capitalised... and cushion to take shock is there in the balance sheet." Ravichandran K. www.kences1.blogspot.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
