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 ICICI Bank on Sunday filed a complaint against some brokers and websites that were creating panic among depositors and shareholders by spreading rumours about the financial health of the bank.  The complaint filed before Additional Commissioner of Police Economic Offense wing of Mumbai Police said that certain people were acting in concert to spread "malicious rumours" through various media to gain financial benefits by hurting the bank reputation.  The complaint which was also filed before Coimbatore Police said that "a broker/sub-broker (of major securities broker based in Mumbai) had been the origin of various sms" spreading wrong information about the financial health of the bank.

One of the sms listed in the complaint read, "kindly withdraw all your deposits and cash in account with ICICI Bank as ICICI bank already rushed to RBI for insolvency."  The accused are trying to spread false, baseless and malicious rumours about the financial status of the bank that contain knowingly false, baseless and incorrect statements against the bank that can lead a lay public astray, it said.  These rumours, it said, are being spread with the intention of undermining the faith and confidence depositors and investors.

Following the rumours, the shares of the ICICI Bank tumbled by over 20 per cent to Rs 364.10 on Friday.
The concerted effort to spread malicious rumours could be new form of economic terrorism (akin to how counterfeit currency is put into circulation to lower the public faith and confidence, and cause national economic interests to be compromised), it said.

 

Source : Various TV News Reports

Please don't spread rumors. Fall of ICICI Bank would cause great damage to Indian Economy . Your money in the ICICI Bank is very safe. Be Patriotic. Help the authorities to nab the criminals spreading baseless rumors.