ICICI Bank, the largest private bank in the country, is also the biggest sufferer in the banking arena.

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The quality of incremental users being added to the network is also becoming a cause for concern. Prakash Gaba, Telecom Technical analyst, agrees, “What we are seeing now are realistic figures and not the inflated figures that we were seeing 10-12 months ago.”

Unexpectedly, the Indian banking sector hasn’t got so badly burnt (as compared to few other sectors) so far from the global crisis. ICICI Bank, the largest private bank in the country, is also the biggest sufferer in the banking arena. It all started with the rumour surrounding the company’s exposure to Lehman Brothers through its UK subsidiary. Share price of ICICI Bank fell by more than 50% between September 16 and October 10, 2008. ICICI spokesperson Charudatta Deshpande tells B&E, “Most of the downfall in ICICI’s share value during the year was artificial. It was done by a group of brokers and vested interests. We still maintain that position.

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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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