RBI quashes rumours second-biggest bank at risk

The Reserve Bank of India on Tuesday moved to soothe concerns that ICICI Bank, a Mumbai-based lender, was in trouble after reports emerged of a run on the bank.

The Reserve Bank said that the bank, which is India's second largest with deposits of Rs3,998 billion ($100 billion), remained strong.

"There are reports in some sections of the media that based on rumours regarding the financial strength of ICICI Bank, depositors are withdrawing cash at its ATMs and branches in some locations," the R

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