Icici Bank, Dish Tv Launch Banking Interactive Service

[@ksh@T 20]

Source: The Economic Times

MUMBAI: ICICI Bank and Dish TV on Tuesday launched interactive banking service, ICICIATIVE, that would enable subscribers to access information on the bank's products and services from their home.

Through ICICIACTIVE, Dish TV viewers would get information about various types of ICICI Bank accounts and deposits.

"The association with Dish TV will enable us to further extend our reach and offer latest information to the customers," ICICI Bank Retail Liabilities Head Maninder Juneja said in a release.

Dish subscribers can access information on different products, EMI on loans, eligibility criteria, documentation, time required for processing a request, ATM/branch details. ICICIATIVE would appear as a separate channel. The feature would be free for ICICI Bank customers. ICICI Bank said it is open to have similar kind of understanding with other DTH service providers.

Catch ICICI Active on channel no.098

Edited October 7, 2008 by @ksh@T

[commonman 228]

For the last 1 week, the biggest complain of all ICICI customers is that the bank is not putting enough cash in their ATMs. One needs to go to atleast 4 ATMs before getting cash. So whats the use of such services when even the basic banking service is not fully provided.

[Arun 795]

They have run out of cash since people panicked after rumours spread that ICICI Bank may go the Lehman way. So they might have been caught by surprise after the sudden surge in the cash withdrawals from ATMs.

Some say that the rumour was started by ADAG as Anil Ambani had hinted that Reliance Capital may enter banking services soon!

[manishag 17]

but dude see the stock rates icici bank is going on the same track there stocks has been reduced by 75% in last 9 months

[Arun 795]

Yes, stock market prices are dependant on rumours, especially in a country like India. How will a bank survive when everyone will withdraw the money?

[Honest 836]

My dear friends, even I too went to ICICI branch to withdraw maximum cash. But after I saw a letter from RBI on the entrance of ICICI bank, I decided to come back. The letter from Reserve Bank of India clearly mentioned that ICICI is capitalised with good liquidity, their's no need to panic.

How will a bank survive when everyone will withdraw the money?

^^^

Exactly, thats what I too thought and come back without withdrawing a single penny.

And in the evening I received this SMS from ICICI bank :

Your deposits with ICICI bank are safe. Your bank is well capitalized with good liquidity. Please do not listen to baseless rumours. Happy festive season.

Regards.

[prathod 3]

Whats the future of ICICI Bank shares now,will it bounce back or should one hold or buy

[Arun 795]

If you can hold for long term like 5 years or so, then defenitely buy. This suggestion is applicable for any stock at this time. What say Sadik?

[manishag 17]

well i too say that this is the time when one can invest for the long term and can expect the good returns after all it's a know fact that after every down trend there is up trend and after uptrend there is downtrend. every night is followed by a good day

[Sadikk 301]

Please invest only in company where FIIs have not invested.

as FIIs are packing thier bags, and selling everything they have.

Rcom, GMRinfra, Icicibank, RIL, DLF, and some more Bluechips have FIIs holding in them.

So play secure.

I am greedy now a days on telecom TTML, Bharti, and Rcom( In Small Quantities) for Super long term.

The way they have taken it to 21k, taking it down to 8K to make better positions.

Keep the cash ready guys. its a rare opportunity one gets in stock market.

[Sadikk 301]

This is written by friend to his paid members.

Dear Members,

Everyday markets all over the world are bleeding with deep cuts and this week our index lost more than 17% which is one of the biggest falls in the history of stock markets but considering other Asian peers and likes of Russia and Brazil we are in the safer zone.

As a trader and an investor me too felt that markets will stop at one point but there is no end for this erratic market which is not in mood to listen any positive news but reacts on a slightest of negative news. Today at one point of time we lost more than three figures in Sensex and we were in a situation that we may even touch below 10K. Thanks to the support which it took at around 10200 levels.

Even though we closed off above today's lows but this would be the lowest closing in this year, now considering this type of fall if we ask a kid he would say we may reach zero in next 15 days , but what will happen to the industries and so called blue chips like RIL , L&T , BHEL, TATA , BHARTI etc ?? Will they shut down their business? If so we would have no fuel, infra, power, conveyance and communication i.e we are back 500 years which is quite impossible and sooner or later we have to derail from the crisis as markets are not involved.

The problem lies with US and which is partially spread to Europe. What did we do to take the beating?? Yes, up to some extent we may be affected as the global leaders are in problems but at some point of time our markets will derail from the crisis and may trade stable. We feel the moment is very near and so we advice members to have patience.

Indian economy is still intact and the industries are stepping ahead and acquiring businesses from all around the world. We have one of the finest intellectuals in the world and more than 65% of Indians are below 30 which no other country has, I mean the work force is much more energetic and ready to take risk. I think this is the best time for us to accept the challenges and move ahead. Once again, we request members to have patience, as it always pays. On this note we advice members not to give up hope as good golden days are just ahead of us. Let's wait & conquer.

[Arun 795]

ICICI complains to cops about rumours

DNA India, Monday, October 13, 2008 04:09 IST

Going all-out to retain the trust of investors and customers, ICICI Bank on Sunday approached the police alleging certain brokers with a Mumbai-based brokerage house were indulging in “malicious” rumour mongering to raise doubts about its financial health.

Calling it economic terrorism, an ICICI Bank spokesman said: “We will be approaching all regulators including SEBI on this.”

In its complaints filed with the economic offences wings of police in Mumbai and Coimbatore, the bank said that a broker or sub-broker in the Tamil Nadu city was sending SMSes creating panic among depositors, causing withdrawals.

Over the last few days, ICICI bank has been facing an onslaught of rumours that the global economic crisis had triggered a liquidity crunch in the country’s biggest private sector bank.

On Saturday, the bank sent SMSes assuring its depositors that their money was safe. It also released advertisements in newspapers asking its customer not to listen to “baseless rumours.”

Senior bank officials went into a huddle, holding meetings for most of Sunday even as the corporate communications department was working overtime. They finally decided to file the police complaints to counter the rumours.

ICICI Bank scrips have lost half its value in the last one month and the current value per share is Rs365 — lowest in the last three years. On Friday, the bank’s shares lost 28% of their previous day’s value during early trade and were down 20% by the end of day’s trading.

ICICI Bank managing director KV Kamath has already talked to finance minister P Chidambaram about the vested interests who are deliberately hammering down the share prices and has sought a proper investigation from SEBI.

“The concerted effort to spread malicious rumours could be [a] 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),” the bank complaint says.

According to the complaint, one of the SMSes read: “Kindly withdraw all your deposits and cash in account with ICICI Bank as ICICI Bank already rushed to RBI for insolvency.”

The rumours were also spread about top management selling shares of the bank,

creating panic in the share market, the complaint alleges. It cited an SMS that read: “icici top officials r all sellng thr icici holdings in mkt 4 lst 2 wks. Thy knw that icici is going to annnce vry bad bankruptcy soon. This is confirmed news from 1 of its board drctrs. exit all ur holding in icici n all bnk stks. kamath also selling his binami holdings from 750 levels (sic).”

The private sector lender alleges that a bear cartel of certain high-profile brokers in the Bombay Stock Exchange, who have been selling the shares, stocks and securities of the bank for quite some time, may also have been behind the circulation of the malicious rumours about its financial status.

The bank had conducted preliminary investigation using its own machinery to find the source of such misleading statements, e-mails and SMSes based on false information, the complaint said.

The complaint added that such a message was found to be sent by a massgroup SMS sending website called www.smsgupshup.com & Maya news, having membership strength of 15,480.

The bank has been maintaining that it is well capitalised. The capital adequacy is over 13% against the regulatory requirement of 9 per cent, the bank claims.

ICICI admits that there have been sporadic withdrawals from ATMs but also adds that it has enough funds to meet customer requirements for now

More than 70% of ICICI shares have been held by foreign institutional investors, but the bank refuses to blame foreign funds for the fall. “Foreign funds dominate the whole market and are pulling out investments from across the stock market for some time and that is affecting the market as a whole,” a bank spokesperson said.

[mgdelhi 192]

I got this email today morning..Regards, MG

Dear Customer,

We are aware that you are being misled by numerous malicious and baseless rumors. Many of these are via SMSes. Many of our customers have written in to us expressing solidarity and confidence in our relationship, and have mentioned they have dismissed these rumors, for which we are grateful. Still we know that these rumors may cause you distress and doubts. You are our valued customer and we would not like you to have any of these feelings. So we have now chosen to write to you directly to allay your concerns if any.

You would have seen the categorical endorsement of the soundness of Indian banking as well as ICICI Bank's sound financial health from the RBI and the Finance Minister. You would have also read about the unequivocal certificate of confidence reposed on us by S&P an independent rating agency of repute. We have categorically and in a transparent manner disclosed that

* We have ZERO exposure, directly or indirectly, to US sub-prime

*

We have 150% more capital than what Banks are required to have, and we are one of the highest capitalized banks in the country

* We have a AAA rating

* We have sound liquidity to meet your needs whenever you need and in what ever amounts you may need

Your bank has grown and achieved its status of pre-eminence due to the patronage and trust you have reposed thus far in us. We have made many an Indian smile with a house, car and every banking need dreamed of by Indians. I am sure nothing factually or otherwise has changed in our relationship that we should let baseless rumors cast doubts in your mind. We once again want to reaffirm to you that the bank you have built and assisted to grow to pre-eminence will be with you day and night. We take pride in serving you and being the bank of your first choice.

We desire and request the continuance of your unwavering trust and relationship. We promise to you that not only your deposits but all your interests are safe and secure with us. In case you need to reach us, kindly write to us at customer.care@icicibank.com.

Sincerely

V. Vaidyanathan

Executive Director

ICICI Bank Ltd

[manishag 17]

i too got the same mail so they are trying to gain the customer faith again.

but whatever happens i believe that ICICI is not going to fail because it's backed by ADA and ADA is backed by AM and our government is backed with AM so if ICICI will crash ADA will crash and so the government

[@ksh@T 20]

ICICI Bank among soundest int'l fin institutions: KV Kamath

Published on Mon, Oct 13, 2008 at 09:35 , Updated at Mon, Oct 13, 2008 at 21:14 Source : CNBC-TV18

ICICI Bank fell 20% on Friday. KV Kamath, Managing Director and CEO, ICICI Bank, said that ICICI Bank is very well-capitalised at 150% of the requirement. He added that the bank is among the soundest financial institutions in the world.

Kamath feels the anatomy of rumours suggest they are intended to destabilize the bank. He said that the bank will continue to report malicious messages to the regulators, and that rumours are being spread by a market intermediary, and not by any bank.

Kamath said that the worry is that such things can be done to other financial institutions as well. He added that he can see a clear patter of disinformation which is a cause for worry. Rumours are playing negatively on the sentiment of people, he said.

Kamath clarified that there has not been any drastic decline in deposits in the last three weeks. He said their morale will remain high, and that the bank will continue to fight for its customers. He added that call rates had gone up to 22–24% due to high liquidity crunch and the long-term shareholders have not sold any stocks recently. He further said that no senior management has sold shares in the last nine months.

Q: The other rumour which was the most surprising that you would have heard as well doubtless over the last seven days is that ICICI Bank has approached the government for some kind of a bailout and there is a possibility that the State Bank of India was looking to buy ICICI Bank or amalgamate with ICICI Bank in any way?

A: It is completely baseless because ICICI Bank is a healthy bank. ICICI Bank has capital adequacy one and a half times of what is required. The bank’s profitability is not impaired. So, where is the question of this sort of a situation arising.

Let me assure the viewers that we had no such thought in our mind because we believe that this is a healthy bank and we will continue to be a healthy bank.

Q: What is your plan from hereon because clearly after all that has happened in the last fortnight, it seems that ICICI Bank is now vulnerable to this kind of rumour mongering and people seem to believe what has been going around. Last night, there was another fresh rumour as you have just pointed out. What do you do to salvage this kind of sentiment and image which has been hurt?

A: I think a part of the problem is global problem. This problem is there with every global bank in a sense that nobody is comfortable with any bank’s given standing. Other governments have given reassurances about the health of the banking system, not necessarily any bank. In some countries, governments have gone to the extent of guaranteeing the deposits of all depositors and customers.

Each country has reacted in a different way. So, this is nothing peculiar to what is happening around the world. It is only a question that in India we have been picked upon this particular instance.

My own response is that we have a communication task and we are standing up to that task and we will stand up to the task. We, then, have to look at the media to actually be able to communicate what is the true position. Then we need to look up to the government to communicate the true position in a larger systemic context of the economy because our economy is different from what is happening around the world and in the context of the systemic health and if necessary in the health of an individual institution within that system––be it in banking or any other field.

Finally, it is then also the central bank which comes in to provide this sort of assurances about the systemic health. To me this is a sort of action that can be taken. Once there is realization that there were probably clear steps in terms of attempting to do certain things which ought not to be done––once these steps are taken I think things will cool down.

In our own case, we certainly are in a position to say that our customers stand by with us and let me give this assurance to our customers––your bank is sound. We are extremely well capitalized with 150% of what is required. We are profitable and we will continue to be in business.

[@ksh@T 20]

ICICI Bank promotes interactive service ''ICICIACTIVE'' on DISHTV platform

Source: domain-b.com

India's largest private sector bank, ICICI Bank, has launched an innovative interactive banking service ''ICICIATIVE'' on Dishtv. This will enable Dish TV viewers to access information on ICICI Bank products and services, from the convenience of their homes.

Through ICICIACTIVE, Dish TV viewers will be able to get information about various types of ICICI bank accounts and deposits that suits their need. The range of information will include product features, EMI amount on various loans, eligibility criteria, documentation, time required for processing a request, bank's ATM / branch locators, which will enable them to take relevant financial decisions.

Information related to these products and services will be shown on the DishTV TV screen along with the toll-free customer service number which will allow viewers to call and apply or seek further information on a product, of their choice.

''Currently, there are around 7.0 million active digital TV viewers and the numbers are expected to grow further," says Maninder Juneja, head retail liabilities, ICICI Bank."The association with Dish TV will enable us to further extend our reach and offer latest information to the customers. Based on the readily available details customers can plan their financial needs accordingly."

Salil Kapoor, chief operating officer, Dish TV said, ''Banking information on TV for our 3.94 million subscribers across the country is a first in the market.''

Dishtv has been promoted by Essel Group, the parent company of the Zee Network.

Direct-to-home (DTH) television services deliver television channels directly to consumer's homes via satellite without any need of a local cable service provider.

ICICI Bank Limited is India's second largest bank after the government-owned State Bank of India, with consolidated total assets of about $113 billion as of 30 June 2008.