Hello Friends, thanks for reading and for your support on my earlier article on ICICI Bank Home loan - strategy. Within a month I write again on the recent developments with ICICI.
Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys discloses cash-parking points.
A snippet for the article below for your understanding......
*In an interesting subtext, Infosys has shifted Rs 1,000 crore from ICICI Bank to State Bank of India over the past nine months. Today, it has a mere Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of India and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528 crore in Canara Bank.
Clearly shows companies like Infosys, are moving away from MNC such as ICICI. In fact only the salary account of the employees are still maintained with ICICI and the rest of their cash deposits is lying with all leading Indian banks. ICICI bank is surely heading for a disaster, or else companies like Infosys etc are not doing these without some market knowledge on the future of ICICI bank.
The day is NOT far off ... i wont be surprised if this happens in less than 6 months.... again let me say to you .... DO NOT BANK WITH ICICI .... Get your home loan, auto loan, personal loan and everything out of here..... DO NOT even leave your salary stay in the account for more than a day.... move it to your other banks...... leave a Standing instruction to make the Transfer.
Ironically, the salary account of Satyam is also with ICICI Bank ... imagine starting February 2009, ICICI bank is not going to have the salary of 53000 odd employees money come in .... which is going to be another BIG HIT on them ....
Let me wish Good Luck again, this time NOT to you people who are reading this ..... but to ICICI
-- Try not to become the man of success,but rather try to become a man of value. Albert Einstein
> Hello Friends,
> thanks for reading and for your support on my earlier article on ICICI Bank
> Home loan - strategy. Within a month I write again on the recent
> developments with ICICI.
> Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys
> discloses cash-parking points.
> A snippet for the article below for your understanding......
> *In an interesting subtext, Infosys has shifted Rs 1,000 crore from ICICI
> Bank to State Bank of India over the past nine months. Today, it has a mere
> Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs
> 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
> Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of India
> and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528 crore
> in Canara Bank.
> Clearly shows companies like Infosys, are moving away from MNC such as
> ICICI. In fact only the salary account of the employees are still maintained
> with ICICI and the rest of their cash deposits is lying with all leading
> Indian banks. ICICI bank is surely heading for a disaster, or else companies
> like Infosys etc are not doing these without some market knowledge on the
> future of ICICI bank.
> The day is NOT far off ... i wont be surprised if this happens in less than
> 6 months.... again let me say to you .... DO NOT BANK WITH ICICI .... Get
> your home loan, auto loan, personal loan and everything out of here..... DO
> NOT even leave your salary stay in the account for more than a day.... move
> it to your other banks...... leave a Standing instruction to make the
> Transfer.
> Ironically, the salary account of Satyam is also with ICICI Bank ...
> imagine starting February 2009, ICICI bank is not going to have the salary
> of 53000 odd employees money come in .... which is going to be another BIG
> HIT on them ....
> Let me wish Good Luck again, this time NOT to you people who are reading
> this ..... but to ICICI
> --
> Try not to become the man of success,but rather try to become a man of
> value.
> Albert Einstein
-- Kind Regards,
R. Elavarasan
+919790929432
"Most highly paid jobs in the world would not exist in the absence of equity
markets"
Thanks for the information. But i have to admit that your information is half truth & half fake. 'Companies are parking funds with banks' & 'taking money out of ICICI bank into SBI' are the correct news but they are taking out of ICICI bank because the bank is a cheater or fraudulent company is a complete lie. The reason is simple, more and more companies are now parking their excess funds with Public Sector Banks. This phenomenon of companies parking money with bankers is known as flight to safety. Instead of investing their money in risky equity market & private bankers, the companies are parking their excess funds with public sector banks. Companies are doing this because PSB's offer higher interest rates in fixed deposits than their private counterparts. Please don't misguide people here.
On Thu, Jan 15, 2009 at 10:24 PM, ssharma sharma <suj....@gmail.com> wrote: > Hello Friends, > thanks for reading and for your support on my earlier article on ICICI Bank > Home loan - strategy. Within a month I write again on the recent > developments with ICICI.
> Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys > discloses cash-parking points.
> A snippet for the article below for your understanding......
> *In an interesting subtext, Infosys has shifted Rs 1,000 crore from ICICI > Bank to State Bank of India over the past nine months. Today, it has a mere > Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs > 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
> Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of India > and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528 crore > in Canara Bank.
> Clearly shows companies like Infosys, are moving away from MNC such as > ICICI. In fact only the salary account of the employees are still maintained > with ICICI and the rest of their cash deposits is lying with all leading > Indian banks. ICICI bank is surely heading for a disaster, or else companies > like Infosys etc are not doing these without some market knowledge on the > future of ICICI bank.
> The day is NOT far off ... i wont be surprised if this happens in less than > 6 months.... again let me say to you .... DO NOT BANK WITH ICICI .... Get > your home loan, auto loan, personal loan and everything out of here..... DO > NOT even leave your salary stay in the account for more than a day.... move > it to your other banks...... leave a Standing instruction to make the > Transfer.
> Ironically, the salary account of Satyam is also with ICICI Bank ... > imagine starting February 2009, ICICI bank is not going to have the salary > of 53000 odd employees money come in .... which is going to be another BIG > HIT on them ....
> Let me wish Good Luck again, this time NOT to you people who are reading > this ..... but to ICICI
> -- > Try not to become the man of success,but rather try to become a man of > value. > Albert Einstein
One bit of suggestion. If ICICI bank is doomed - you are better off
keeping all your loans (home loan, auto loan etc etc.) with them and
only take away your deposits from them. LOL.
No offence intended. Just joking - one gets to joke around less in
such turbulent times.
Mr. Sharma, while I appreciate your concern and in spirit even share
it. However, currently predicting the crash of ICICI bank seems a too
hasty. So if you do not feel safe with them - by all means move away
from them (infy did that) - but I guess others can be left to decide
more rationally.
Thanks and Regards
PS. I am surely not related to ICICI and also not related to Mr.
Sharma :)
On Jan 15, 9:54 pm, ssharma sharma <sujo...@gmail.com> wrote:
> Hello Friends,
> thanks for reading and for your support on my earlier article on ICICI Bank
> Home loan - strategy. Within a month I write again on the recent
> developments with ICICI.
> Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys
> discloses cash-parking points.
> A snippet for the article below for your understanding......
> *In an interesting subtext, Infosys has shifted Rs 1,000 crore from ICICI
> Bank to State Bank of India over the past nine months. Today, it has a mere
> Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs
> 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
> Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of India
> and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528 crore
> in Canara Bank.
> Clearly shows companies like Infosys, are moving away from MNC such as
> ICICI. In fact only the salary account of the employees are still maintained
> with ICICI and the rest of their cash deposits is lying with all leading
> Indian banks. ICICI bank is surely heading for a disaster, or else companies
> like Infosys etc are not doing these without some market knowledge on the
> future of ICICI bank.
> The day is NOT far off ... i wont be surprised if this happens in less than
> 6 months.... again let me say to you .... DO NOT BANK WITH ICICI .... Get
> your home loan, auto loan, personal loan and everything out of here..... DO
> NOT even leave your salary stay in the account for more than a day.... move
> it to your other banks...... leave a Standing instruction to make the
> Transfer.
> Ironically, the salary account of Satyam is also with ICICI Bank ... imagine
> starting February 2009, ICICI bank is not going to have the salary of 53000
> odd employees money come in .... which is going to be another BIG HIT on
> them ....
> Let me wish Good Luck again, this time NOT to you people who are reading
> this ..... but to ICICI
> --
> Try not to become the man of success,but rather try to become a man of
> value.
> Albert Einstein
Very interesting how we make conclusions without complete facts. Let
me give you a fact and a few questions. Answer would be obvious to
you:
Fact
1. SBI and Yes bank were offering 14% on bulk deposits in October,
obviously money was going to move to SBI.
Questions
1. Why, as a company, I will move my money from one bank but would
leave all my employees money in the same bank and send salaries
there?? Am I not bothered about inconveniencing my employees, the only
asset for an IT company.
2. Regarding salary to Satyam's employees, why would the bank take a
hit, it is a deposit made by the company in the salary accounts which
can be then withdrawn by the employees. No deposits, no money for
withdrawal. Bank is not giving loan against salary, so no hit.
Looks like Mr Sharma works in a bank which has been badly affected by
ICICI, hence these panic attacks.
For your information, ICICI bank has the lowest SME loan portfolio,
most of the big corporates bank with it, only bank which went slow on
loan disbursal in the last two years, cleaning its balance sheet and
lending only to top corporates, and is available at book/ lower than
book value (amongst all the private sector banks).
Thanks to Mr Sharma, we get opportunities to buy banks like these.
If you get us some concrete analysis, we would be grateful. Otherwise,
please don't spread baseless rumours. Thanks.
1) Companies regularly shift deposits based on interest rates offered by banks. Sometimes some banks offer better rates compared to others. So tomorrow if Infosys shifts its funds from SBI and moves to say HDFC you will advice ppl to exit SBI. Funny!!!
2) CASA (current and savings account) are relatively more stable compared to deposits. They are still with ICICI.
And my god... you have the figures also... are you working in ICICI Bank by any chance?
I work in the balance sheet management group of ICICI. This belowmentioned mail is a waste of time and energy. Pls stop spreading such rumors.
cant stop laughing though.
bibi
Date: Thu, 15 Jan 2009 22:24:41 +0530Subject: <<Aiii>> beware of icici bankFrom: sujo...@gmail.comTo: aiii@googlegroups.com; informed-inves...@googlegroups.comHello Friends,thanks for reading and for your support on my earlier article on ICICI Bank Home loan - strategy. Within a month I write again on the recent developments with ICICI.Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys discloses cash-parking points.A snippet for the article below for your understanding......In an interesting subtext, Infosys has shifted Rs 1,000 crore from ICICI Bank to State Bank of India over the past nine months. Today, it has a mere Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of India and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528 crore in Canara Bank.Clearly shows companies like Infosys, are moving away from MNC such as ICICI. In fact only the salary account of the employees are still maintained with ICICI and the rest of their cash deposits is lying with all leading Indian banks. ICICI bank is surely heading for a disaster, or else companies like Infosys etc are not doing these without some market knowledge on the future of ICICI bank.The day is NOT far off ... i wont be surprised if this happens in less than 6 months.... again let me say to you .... DO NOT BANK WITH ICICI .... Get your home loan, auto loan, personal loan and everything out of here..... DO NOT even leave your salary stay in the account for more than a day.... move it to your other banks...... leave a Standing instruction to make the Transfer.Ironically, the salary account of Satyam is also with ICICI Bank ... imagine starting February 2009, ICICI bank is not going to have the salary of 53000 odd employees money come in .... which is going to be another BIG HIT on them ....Let me wish Good Luck again, this time NOT to you people who are reading this ..... but to ICICI-- Try not to become the man of success,but rather try to become a man of value.Albert Einstein_________________________________________________________________
Windows Live™ Hotmail®: Chat. Store. Share. Do more with mail. http://windowslive.com/howitworks?ocid=TXT_TAGLM_WL_t1_hm_justgotbett...
Mr kothari not only companies even employees of icici bank have shifted
their entire Fd account to puiblic sector bank.I know an icici bank at a
senior position who has shifted his entire deposits to SBI and is very much
worried about his job in ICICI BANK.When employees of icici bank themselves
having insider information do not have faith in the bank how can others have
faith in the bank.For your kind info FD RATES in public sector banks and
Private banks are same.We are not discussing companies here and talking
about oNLY INFOSYS.Yes satyam continues to have faith in ICICI BANK>
On Fri, Jan 16, 2009 at 10:02 AM, Kothari <abhishekkotha...@gmail.com>wrote:
> Thanks for the information. But i have to admit that your information is
> half truth & half fake. 'Companies are parking funds with banks' & 'taking
> money out of ICICI bank into SBI' are the correct news but they are taking
> out of ICICI bank because the bank is a cheater or fraudulent company is a
> complete lie. The reason is simple, more and more companies are now parking
> their excess funds with Public Sector Banks. This phenomenon of companies
> parking money with bankers is known as flight to safety. Instead of
> investing their money in risky equity market & private bankers, the
> companies are parking their excess funds with public sector banks. Companies
> are doing this because PSB's offer higher interest rates in fixed deposits
> than their private counterparts. Please don't misguide people here.
> --
> Thanks & Regards,
> Abhishek Kothari
> PS: I have no relationship with ICICI Bank.
> On Thu, Jan 15, 2009 at 10:24 PM, ssharma sharma <suj....@gmail.com>wrote:
>> Hello Friends,
>> thanks for reading and for your support on my earlier article on ICICI
>> Bank Home loan - strategy. Within a month I write again on the recent
>> developments with ICICI.
>> Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys
>> discloses cash-parking points.
>> A snippet for the article below for your understanding......
>> *In an interesting subtext, Infosys has shifted Rs 1,000 crore from ICICI
>> Bank to State Bank of India over the past nine months. Today, it has a mere
>> Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs
>> 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
>> Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of
>> India and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528
>> crore in Canara Bank.
>> Clearly shows companies like Infosys, are moving away from MNC such as
>> ICICI. In fact only the salary account of the employees are still maintained
>> with ICICI and the rest of their cash deposits is lying with all leading
>> Indian banks. ICICI bank is surely heading for a disaster, or else companies
>> like Infosys etc are not doing these without some market knowledge on the
>> future of ICICI bank.
>> The day is NOT far off ... i wont be surprised if this happens in less
>> than 6 months.... again let me say to you .... DO NOT BANK WITH ICICI ....
>> Get your home loan, auto loan, personal loan and everything out of here.....
>> DO NOT even leave your salary stay in the account for more than a day....
>> move it to your other banks...... leave a Standing instruction to make the
>> Transfer.
>> Ironically, the salary account of Satyam is also with ICICI Bank ...
>> imagine starting February 2009, ICICI bank is not going to have the salary
>> of 53000 odd employees money come in .... which is going to be another BIG
>> HIT on them ....
>> Let me wish Good Luck again, this time NOT to you people who are reading
>> this ..... but to ICICI
>> --
>> Try not to become the man of success,but rather try to become a man of
>> value.
>> Albert Einstein
-- Try not to become the man of success,but rather try to become a man of
value.
Albert Einstein
Mr. Sharma
I too agree with our Pal comments , Please don't spread rumours about any
banks including ICICI as we are in very critical situation in both economy
and confidence level among every body is very low.
Note that every bank had NPA , if you don't want NPA then you can't lend it
means you can't do business.
On Fri, Jan 16, 2009 at 4:37 PM, Aks Seth <aks120...@gmail.com> wrote:
> Well !! Well !! :)
> Mr. Sharma
> One bit of suggestion. If ICICI bank is doomed - you are better off
> keeping all your loans (home loan, auto loan etc etc.) with them and
> only take away your deposits from them. LOL.
> No offence intended. Just joking - one gets to joke around less in
> such turbulent times.
> Mr. Sharma, while I appreciate your concern and in spirit even share
> it. However, currently predicting the crash of ICICI bank seems a too
> hasty. So if you do not feel safe with them - by all means move away
> from them (infy did that) - but I guess others can be left to decide
> more rationally.
> Thanks and Regards
> PS. I am surely not related to ICICI and also not related to Mr.
> Sharma :)
> On Jan 15, 9:54 pm, ssharma sharma <sujo...@gmail.com> wrote:
> > Hello Friends,
> > thanks for reading and for your support on my earlier article on ICICI
> Bank
> > Home loan - strategy. Within a month I write again on the recent
> > developments with ICICI.
> > Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys
> > discloses cash-parking points.
> > A snippet for the article below for your understanding......
> > *In an interesting subtext, Infosys has shifted Rs 1,000 crore from ICICI
> > Bank to State Bank of India over the past nine months. Today, it has a
> mere
> > Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs
> > 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
> > Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of
> India
> > and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528
> crore
> > in Canara Bank.
> > Clearly shows companies like Infosys, are moving away from MNC such as
> > ICICI. In fact only the salary account of the employees are still
> maintained
> > with ICICI and the rest of their cash deposits is lying with all leading
> > Indian banks. ICICI bank is surely heading for a disaster, or else
> companies
> > like Infosys etc are not doing these without some market knowledge on the
> > future of ICICI bank.
> > The day is NOT far off ... i wont be surprised if this happens in less
> than
> > 6 months.... again let me say to you .... DO NOT BANK WITH ICICI .... Get
> > your home loan, auto loan, personal loan and everything out of here.....
> DO
> > NOT even leave your salary stay in the account for more than a day....
> move
> > it to your other banks...... leave a Standing instruction to make the
> > Transfer.
> > Ironically, the salary account of Satyam is also with ICICI Bank ...
> imagine
> > starting February 2009, ICICI bank is not going to have the salary of
> 53000
> > odd employees money come in .... which is going to be another BIG HIT on
> > them ....
> > Let me wish Good Luck again, this time NOT to you people who are reading
> > this ..... but to ICICI
> > --
> > Try not to become the man of success,but rather try to become a man of
> > value.
> > Albert Einstein
ICICI Bank is worst bank in every issue being customer care,quality of loan and they are cheater no. 1, so readers should be beware of icici bank. Whenever you keep relationship with this cheater bank either for cards or for loan you will be cheated. Even if you keep normal saving account so many charges will come in your ledger
--- On Fri, 16/1/09, senthil kumar <kumarsh...@gmail.com> wrote:
From: senthil kumar <kumarsh...@gmail.com>
Subject: <<Aiii>> Re: beware of icici bank
To: aiii@googlegroups.com
Date: Friday, 16 January, 2009, 5:10 PM
Mr. Sharma
I too agree with our Pal comments , Please don't spread rumours about any banks including ICICI as we are in very critical situation in both economy and confidence level among every body is very low.
Note that every bank had NPA , if you don't want NPA then you can't lend it means you can't do business.
Know the facts .
On Fri, Jan 16, 2009 at 4:37 PM, Aks Seth <aks120...@gmail.com> wrote:
Well !! Well !! :)
Mr. Sharma
One bit of suggestion. If ICICI bank is doomed - you are better off
keeping all your loans (home loan, auto loan etc etc.) with them and
only take away your deposits from them. LOL.
No offence intended. Just joking - one gets to joke around less in
such turbulent times.
Mr. Sharma, while I appreciate your concern and in spirit even share
it. However, currently predicting the crash of ICICI bank seems a too
hasty. So if you do not feel safe with them - by all means move away
from them (infy did that) - but I guess others can be left to decide
more rationally.
Thanks and Regards
PS. I am surely not related to ICICI and also not related to Mr.
Sharma :)
On Jan 15, 9:54 pm, ssharma sharma <sujo...@gmail.com> wrote:
> Hello Friends,
> thanks for reading and for your support on my earlier article on ICICI Bank
> Home loan - strategy. Within a month I write again on the recent
> developments with ICICI.
> Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys
> discloses cash-parking points.
> A snippet for the article below for your understanding......
> *In an interesting subtext, Infosys has shifted Rs 1,000 crore from ICICI
> Bank to State Bank of India over the past nine months. Today, it has a mere
> Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs
> 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
> Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of India
> and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528 crore
> in Canara Bank.
> Clearly shows companies like Infosys, are moving away from MNC such as
> ICICI. In fact only the salary account of the employees are still maintained
> with ICICI and the rest of their cash deposits is lying with all leading
> Indian banks. ICICI bank is surely heading for a disaster, or else companies
> like Infosys etc are not doing these without some market knowledge on the
> future of ICICI bank.
> The day is NOT far off ... i wont be surprised if this happens in less than
> 6 months.... again let me say to you .... DO NOT BANK WITH ICICI .... Get
> your home loan, auto loan, personal loan and everything out of here..... DO
> NOT even leave your salary stay in the account for more than a day.... move
> it to your other banks...... leave a Standing instruction to make the
> Transfer.
> Ironically, the salary account of Satyam is also with ICICI Bank ... imagine
> starting February 2009, ICICI bank is not going to have the salary of 53000
> odd employees money come in .... which is going to be another BIG HIT on
> them ....
> Let me wish Good Luck again, this time NOT to you people who are reading
> this ..... but to ICICI
> --
> Try not to become the man of success,but rather try to become a man of
> value.
> Albert Einstein
For the benefit of group members let me also state that INFOSYS has
withdrawn entire money from BOB (bank of baroda) in the same period as
per reported data and it has reduced its deposit with one other state
owned bank also. Decision of a company to park money with one bank or
the other is a decision of bulk rates offered by these banks and
company will park funds whereever it gets best rate. .
LETS TRY AND PRESENT ALL FACTS TO THIS GROUP AND NOT SHOW THEM
PARTIALLY AND THEN DRAW CONCLUSIONS. I WOULD BE HAPPY HAVE A RESPONSE
FROM MR SHARMA AS TO WHY INFOSYS HAS WITHDRAWN MONEY FROM A FEW STATE
OWNED BANKS??
On Jan 16, 12:54 am, ssharma sharma <sujo...@gmail.com> wrote:
> Hello Friends,
> thanks for reading and for your support on my earlier article on ICICI Bank
> Home loan - strategy. Within a month I write again on the recent
> developments with ICICI.
> Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys
> discloses cash-parking points.
> A snippet for the article below for your understanding......
> *In an interesting subtext, Infosys has shifted Rs 1,000 crore from ICICI
> Bank to State Bank of India over the past nine months. Today, it has a mere
> Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs
> 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
> Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of India
> and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528 crore
> in Canara Bank.
> Clearly shows companies like Infosys, are moving away from MNC such as
> ICICI. In fact only the salary account of the employees are still maintained
> with ICICI and the rest of their cash deposits is lying with all leading
> Indian banks. ICICI bank is surely heading for a disaster, or else companies
> like Infosys etc are not doing these without some market knowledge on the
> future of ICICI bank.
> The day is NOT far off ... i wont be surprised if this happens in less than
> 6 months.... again let me say to you .... DO NOT BANK WITH ICICI .... Get
> your home loan, auto loan, personal loan and everything out of here..... DO
> NOT even leave your salary stay in the account for more than a day.... move
> it to your other banks...... leave a Standing instruction to make the
> Transfer.
> Ironically, the salary account of Satyam is also with ICICI Bank ... imagine
> starting February 2009, ICICI bank is not going to have the salary of 53000
> odd employees money come in .... which is going to be another BIG HIT on
> them ....
> Let me wish Good Luck again, this time NOT to you people who are reading
> this ..... but to ICICI
> --
> Try not to become the man of success,but rather try to become a man of
> value.
> Albert Einstein
If IBank collapse then it will take thousands of companies with it which will have cascading impact....India is still not as develop which can afford the collapse of its second largest bank...No need to worry nothing will happen to the bank...Even if something happens (which is not possible) then it will be taken over by some other bank so no risk to depositors...
Also for your information, Indian government gives insurance of upto 1L of deposit per bank account...
________________________________
From: Nitin B <nitin.balw...@adventity.com>
To: AIII (Association of Indian Individual Investors) <aiii@googlegroups.com>
Sent: Friday, January 16, 2009 6:01:20 PM
Subject: <<Aiii>> Re: beware of icici bank
Guys,
Very interesting how we make conclusions without complete facts. Let
me give you a fact and a few questions. Answer would be obvious to
you:
Fact
1. SBI and Yes bank were offering 14% on bulk deposits in October,
obviously money was going to move to SBI.
Questions
1. Why, as a company, I will move my money from one bank but would
leave all my employees money in the same bank and send salaries
there?? Am I not bothered about inconveniencing my employees, the only
asset for an IT company.
2. Regarding salary to Satyam's employees, why would the bank take a
hit, it is a deposit made by the company in the salary accounts which
can be then withdrawn by the employees. No deposits, no money for
withdrawal. Bank is not giving loan against salary, so no hit.
Looks like Mr Sharma works in a bank which has been badly affected by
ICICI, hence these panic attacks.
For your information, ICICI bank has the lowest SME loan portfolio,
most of the big corporates bank with it, only bank which went slow on
loan disbursal in the last two years, cleaning its balance sheet and
lending only to top corporates, and is available at book/ lower than
book value (amongst all the private sector banks).
Thanks to Mr Sharma, we get opportunities to buy banks like these.
If you get us some concrete analysis, we would be grateful. Otherwise,
please don't spread baseless rumours. Thanks.
I am really disappointed to see tha a bank who changed the banking in india
which is pioneer in all respect is treated like this
remeber those days when Demand draft request used to take one day even in so
called best bank SBI. Today the technology you are using is upgarded because
of the ICICI Bank.
I just fail to understand that if someone is giving you benefit of 10 rupees
extra and chargin one rupee out of that what is the harm.
beside that in the world map if any bank has given india any name that is
icici bank
On 1/17/09, Nice n cool rahul 4 u only <reply_with_l...@yahoo.com> wrote:
> ICICI Bank is worst bank in every issue being customer care,quality of loan
> and they are cheater no. 1, so readers should be beware of icici bank..
> Whenever you keep relationship with this cheater bank either for cards or
> for loan you will be cheated. Even if you keep normal saving account so many
> charges will come in your ledger
> --- On *Fri, 16/1/09, senthil kumar <kumarsh...@gmail.com>* wrote:
> From: senthil kumar <kumarsh...@gmail.com>
> Subject: <<Aiii>> Re: beware of icici bank
> To: aiii@googlegroups.com
> Date: Friday, 16 January, 2009, 5:10 PM
> Mr. Sharma
> I too agree with our Pal comments , Please don't spread rumours about any
> banks including ICICI as we are in very critical situation in both economy
> and confidence level among every body is very low.
> Note that every bank had NPA , if you don't want NPA then you can't lend it
> means you can't do business.
> Know the facts .
> On Fri, Jan 16, 2009 at 4:37 PM, Aks Seth <aks120...@gmail.com> wrote:
>> Well !! Well !! :)
>> Mr. Sharma
>> One bit of suggestion. If ICICI bank is doomed - you are better off
>> keeping all your loans (home loan, auto loan etc etc.) with them and
>> only take away your deposits from them. LOL.
>> No offence intended. Just joking - one gets to joke around less in
>> such turbulent times.
>> Mr. Sharma, while I appreciate your concern and in spirit even share
>> it. However, currently predicting the crash of ICICI bank seems a too
>> hasty. So if you do not feel safe with them - by all means move away
>> from them (infy did that) - but I guess others can be left to decide
>> more rationally.
>> Thanks and Regards
>> PS. I am surely not related to ICICI and also not related to Mr.
>> Sharma :)
>> On Jan 15, 9:54 pm, ssharma sharma <sujo...@gmail.com> wrote:
>> > Hello Friends,
>> > thanks for reading and for your support on my earlier article on ICICI
>> Bank
>> > Home loan - strategy. Within a month I write again on the recent
>> > developments with ICICI.
>> > Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys
>> > discloses cash-parking points.
>> > A snippet for the article below for your understanding......
>> > *In an interesting subtext, Infosys has shifted Rs 1,000 crore from
>> ICICI
>> > Bank to State Bank of India over the past nine months. Today, it has a
>> mere
>> > Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs
>> > 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
>> > Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of
>> India
>> > and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528
>> crore
>> > in Canara Bank.
>> > Clearly shows companies like Infosys, are moving away from MNC such as
>> > ICICI. In fact only the salary account of the employees are still
>> maintained
>> > with ICICI and the rest of their cash deposits is lying with all leading
>> > Indian banks. ICICI bank is surely heading for a disaster, or else
>> companies
>> > like Infosys etc are not doing these without some market knowledge on
>> the
>> > future of ICICI bank.
>> > The day is NOT far off ... i wont be surprised if this happens in less
>> than
>> > 6 months.... again let me say to you .... DO NOT BANK WITH ICICI ....
>> Get
>> > your home loan, auto loan, personal loan and everything out of here.....
>> DO
>> > NOT even leave your salary stay in the account for more than a day....
>> move
>> > it to your other banks...... leave a Standing instruction to make the
>> > Transfer.
>> > Ironically, the salary account of Satyam is also with ICICI Bank ...
>> imagine
>> > starting February 2009, ICICI bank is not going to have the salary of
>> 53000
>> > odd employees money come in .... which is going to be another BIG HIT on
>> > them .....
>> > Let me wish Good Luck again, this time NOT to you people who are reading
>> > this ..... but to ICICI
>> > --
>> > Try not to become the man of success,but rather try to become a man of
>> > value.
>> > Albert Einstein
> ------------------------------
> Add more friends to your messenger and enjoy! Invite them now.
Hi kothari,
if i try to make people believe in my thinking what is rude in it.All the
members in this forum are adults they are not gullible to blindly believe me
or you.BTW 2 or 3 people doesnt mean each and every person,out of 3 ,2 are
ICICI BANK employees so naturally they will be biased.I was only replying to
your statement that since public sector banks are giving higher interest
rates that is why people are shifting from private sector banks to public
sector banks.This statement is factually incorrect.Its rather the othervway
round .At present icici bank is offering 9.75% for 890 days while
SBI<BOB<IOB etc are offering 8.75% for same duration.
People are shifting to publ ic sector banks bcoz they enjoy imlicit
sovereign guarantee of govt of india and are therefore more safe.the use of
word hitler by you is enough to show group members as to who is rude.
As for icici bank pl go to MOUTHSHUT.COM and see 700 positive reviews on
this bank.Any bank which treats its customer like dirt will bite dust.ICICI
BANK is in coma and if it diesnt pull up its socks and improve its customer
care service it WILL VANISH LIKE LEHMAN BROTHERS.
Thanks for commenting
On Sat, Jan 17, 2009 at 10:47 AM, Kothari <abhishekkotha...@gmail.com>wrote:
> U r a rude person & trying to make people believe in your thinking. Please
> try to understand the facts before making a news and that too news affecting
> mass no. of people. Try to get to the facts first. You have a negative
> thought on ICICI... appreciated because perception differs from person to
> person, but u don't have to implement that on others. Each & every single
> person has requested you not to post baseless news which have no meaning on
> their own. I was just trying to give u an example, but u took d case far too
> seriously. We are here to discuss news & not litreally slap each other. My
> request to u is don't make people belive in your beliefs, but make them
> understand it & let them take their decision on it!! Its a democratic govt
> that we have here. Don't try to be a hitler.
> On Fri, Jan 16, 2009 at 10:36 PM, ssharma sharma <sujo...@gmail.com>wrote:
>> Mr kothari not only companies even employees of icici bank have shifted
>> their entire Fd account to puiblic sector bank.I know an icici bank at a
>> senior position who has shifted his entire deposits to SBI and is very much
>> worried about his job in ICICI BANK.When employees of icici bank themselves
>> having insider information do not have faith in the bank how can others have
>> faith in the bank.For your kind info FD RATES in public sector banks and
>> Private banks are same.We are not discussing companies here and talking
>> about oNLY INFOSYS.Yes satyam continues to have faith in ICICI BANK>
>> On Fri, Jan 16, 2009 at 10:02 AM, Kothari <abhishekkotha...@gmail.com>wrote:
>>> Mr. Sharma,
>>> Thanks for the information. But i have to admit that your information is
>>> half truth & half fake. 'Companies are parking funds with banks' & 'taking
>>> money out of ICICI bank into SBI' are the correct news but they are taking
>>> out of ICICI bank because the bank is a cheater or fraudulent company is a
>>> complete lie. The reason is simple, more and more companies are now parking
>>> their excess funds with Public Sector Banks. This phenomenon of companies
>>> parking money with bankers is known as flight to safety. Instead of
>>> investing their money in risky equity market & private bankers, the
>>> companies are parking their excess funds with public sector banks. Companies
>>> are doing this because PSB's offer higher interest rates in fixed deposits
>>> than their private counterparts. Please don't misguide people here.
>>> --
>>> Thanks & Regards,
>>> Abhishek Kothari
>>> PS: I have no relationship with ICICI Bank.
>>> On Thu, Jan 15, 2009 at 10:24 PM, ssharma sharma <suj....@gmail.com>wrote:
>>>> Hello Friends,
>>>> thanks for reading and for your support on my earlier article on ICICI
>>>> Bank Home loan - strategy. Within a month I write again on the recent
>>>> developments with ICICI.
>>>> Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys
>>>> discloses cash-parking points.
>>>> A snippet for the article below for your understanding......
>>>> *In an interesting subtext, Infosys has shifted Rs 1,000 crore from
>>>> ICICI Bank to State Bank of India over the past nine months. Today, it has a
>>>> mere Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs
>>>> 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
>>>> Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of
>>>> India and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528
>>>> crore in Canara Bank.
>>>> Clearly shows companies like Infosys, are moving away from MNC such as
>>>> ICICI. In fact only the salary account of the employees are still maintained
>>>> with ICICI and the rest of their cash deposits is lying with all leading
>>>> Indian banks. ICICI bank is surely heading for a disaster, or else companies
>>>> like Infosys etc are not doing these without some market knowledge on the
>>>> future of ICICI bank.
>>>> The day is NOT far off ... i wont be surprised if this happens in less
>>>> than 6 months.... again let me say to you .... DO NOT BANK WITH ICICI ....
>>>> Get your home loan, auto loan, personal loan and everything out of here.....
>>>> DO NOT even leave your salary stay in the account for more than a day....
>>>> move it to your other banks...... leave a Standing instruction to make the
>>>> Transfer.
>>>> Ironically, the salary account of Satyam is also with ICICI Bank ...
>>>> imagine starting February 2009, ICICI bank is not going to have the salary
>>>> of 53000 odd employees money come in .... which is going to be another BIG
>>>> HIT on them ....
>>>> Let me wish Good Luck again, this time NOT to you people who are reading
>>>> this ..... but to ICICI
>>>> --
>>>> Try not to become the man of success,but rather try to become a man of
>>>> value.
>>>> Albert Einstein
>> --
>> Try not to become the man of success,but rather try to become a man of
>> value.
>> Albert Einstein
> --
> Thanks & Regards,
> Abhishek Kothari
-- Try not to become the man of success,but rather try to become a man of
value.
Albert Einstein
Mr nitin you are working in icici bank and so your views are obviously
biased.i do not work in any bank but i do have opportunity to interact with
banks a the grassroot l;evel as i have savings bank account with them.From
my 8 years experience of banking with icici bank I can say icici bank is
worlds most unethical and customer unfriendly bank.Since you are an ICICI
BANK EMPLOYEE it will be better if you resolve the grievances of 702
customers in MOUTHSHUT.COM rather than wasting your time here to
ARTIFICIALLY PROP THE SHARES OF ICICI BANK.
You can buy more icici bank shares AND ALSO SATYAM SHARES AS THEY ARE
AVAILABLE AT 90% discount.Can you deny that ICICI BANK HAS HIGHEST NPAs
AMONG ALL BANKS.About thjis CASA ,Wait for DECEMBER quarter , results CASA
will also change.Why talk about OCTOBER ,We are in january 2009 and you are
talking FD rates of oct 2008.YES BANK is a private bank so not suitable fopr
comparison.
About shares of icici bank,Following are facts
CMP BV
ICICI BANK 424 417
HDFC BANK 937 272
AXIS BANK 444 244
SBI 1165 772
ICICI BANK is quoting BELOW BOOK VALUE BCOZ ITS A RISKY BANK WITH HUGE NPAS
AND HUGE DERIVATIVE LOSSES WHICH IS NOT THE CASE WITH WITH HDFC BANK<AXIS
BANK ANS SBI.That ICICI BANK is quoting BELOW BBOK VALUE IS NOTHING TO BE
HAPPY It shows the real worth of ICICI BANK.Investors who were sold ICICI
BANK SHARES @1000 in IPO are licking their wounds.At that time also
knowledgeable retail investors didnt invest and the retail portion was under
subscribed.
Nitin INDIAN OVERSEAS BANK has recently advertised 1400 PROBATIONARY OFFICER
POSTS Apply for it and get out of this SINKING SHIP OF ICICI BANK.
For yopur infi I DO NOT WORK IN ANY BANK BUT I AM A VORACIOUS READER AND MY
GOAL IS TO SAFEGUARD THE INTEREST OF SMALL INVESTORS WHO ARE EASILY
INFUENCED BY MEDIA HYPE AND SHAHRUKH KHAN ADVT OF IOCICI BANK.Instead of
wasting orecious money of acciunt holders ICICI BANK should solve the
grievances of 720 harassed customers of icici bank.That is the only way
ICICI BANK CAN COME OUT OF COMA.
Since you are an ICICI BANK EMLOYEE I can understand your frustration ans
sympathise wity you.
On Fri, Jan 16, 2009 at 6:01 PM, Nitin B <nitin.balw...@adventity.com>wrote:
> Very interesting how we make conclusions without complete facts. Let
> me give you a fact and a few questions. Answer would be obvious to
> you:
> Fact
> 1. SBI and Yes bank were offering 14% on bulk deposits in October,
> obviously money was going to move to SBI.
> Questions
> 1. Why, as a company, I will move my money from one bank but would
> leave all my employees money in the same bank and send salaries
> there?? Am I not bothered about inconveniencing my employees, the only
> asset for an IT company.
> 2. Regarding salary to Satyam's employees, why would the bank take a
> hit, it is a deposit made by the company in the salary accounts which
> can be then withdrawn by the employees. No deposits, no money for
> withdrawal. Bank is not giving loan against salary, so no hit.
> Looks like Mr Sharma works in a bank which has been badly affected by
> ICICI, hence these panic attacks.
> For your information, ICICI bank has the lowest SME loan portfolio,
> most of the big corporates bank with it, only bank which went slow on
> loan disbursal in the last two years, cleaning its balance sheet and
> lending only to top corporates, and is available at book/ lower than
> book value (amongst all the private sector banks).
> Thanks to Mr Sharma, we get opportunities to buy banks like these.
> If you get us some concrete analysis, we would be grateful. Otherwise,
> please don't spread baseless rumours. Thanks.
-- Try not to become the man of success,but rather try to become a man of
value.
Albert Einstein
As per RBI guidelines DD has to be issued in 30 minutes.if customers dont
speak out whether its SBI or some other bank fault lies with the customer.I
agree SBIs staff is highly unionized but it works when a complaint is
lodged.Howevwe ICICI BANK has left SBI far behind in harassing
customers.ICICI BANK HAS VIOLATED ALL RBI GUIDELINES WITH IMPUNITY AND
MAXIMUM COMPLAINTS IN RBI OMBUDSMAN ARE AGAINST ICICI BANK.I thought that
icici bank will mend its way after a slap on its face by the harassed
customers Some customers have even been forced to commit suicide by hired
goons of icici bank .However even now hapless customers are writing 2
reviews per day against icici bank in mothshut.com.
2. Is it ethical that when their was run on icici bank deposits in october
SATYAM EMPLOYEES stood by it and when now satyam employees need icici bank
it has frozen their credit card limits.the limit is yet to be restored on
the ground inspite of icici bank taking back its retrogade step.
ICICI BANK has only given a bad naqme to india in the world map.Log on to
blog.arjunprabhu.com icici bank a bad experience for many and read excellent
comments about icici bank.
On Sat, Jan 17, 2009 at 11:00 PM, Deepak kabra <deepakdka...@gmail.com>wrote:
> I am really disappointed to see tha a bank who changed the banking in india
> which is pioneer in all respect is treated like this
> remeber those days when Demand draft request used to take one day even in
> so called best bank SBI. Today the technology you are using is upgarded
> because of the ICICI Bank.
> I just fail to understand that if someone is giving you benefit of 10
> rupees extra and chargin one rupee out of that what is the harm.
> beside that in the world map if any bank has given india any name that is
> icici bank
> On 1/17/09, Nice n cool rahul 4 u only <reply_with_l...@yahoo.com> wrote:
>> Why not,
>> ICICI Bank is worst bank in every issue being customer care,quality of
>> loan and they are cheater no. 1, so readers should be beware of icici bank..
>> Whenever you keep relationship with this cheater bank either for cards or
>> for loan you will be cheated. Even if you keep normal saving account so many
>> charges will come in your ledger
>> --- On *Fri, 16/1/09, senthil kumar <kumarsh...@gmail.com>* wrote:
>> From: senthil kumar <kumarsh...@gmail.com>
>> Subject: <<Aiii>> Re: beware of icici bank
>> To: aiii@googlegroups.com
>> Date: Friday, 16 January, 2009, 5:10 PM
>> Mr. Sharma
>> I too agree with our Pal comments , Please don't spread rumours about any
>> banks including ICICI as we are in very critical situation in both economy
>> and confidence level among every body is very low.
>> Note that every bank had NPA , if you don't want NPA then you can't lend
>> it means you can't do business.
>> Know the facts .
>> On Fri, Jan 16, 2009 at 4:37 PM, Aks Seth <aks120...@gmail.com> wrote:
>>> Well !! Well !! :)
>>> Mr. Sharma
>>> One bit of suggestion. If ICICI bank is doomed - you are better off
>>> keeping all your loans (home loan, auto loan etc etc.) with them and
>>> only take away your deposits from them. LOL.
>>> No offence intended. Just joking - one gets to joke around less in
>>> such turbulent times.
>>> Mr. Sharma, while I appreciate your concern and in spirit even share
>>> it. However, currently predicting the crash of ICICI bank seems a too
>>> hasty. So if you do not feel safe with them - by all means move away
>>> from them (infy did that) - but I guess others can be left to decide
>>> more rationally.
>>> Thanks and Regards
>>> PS. I am surely not related to ICICI and also not related to Mr.
>>> Sharma :)
>>> On Jan 15, 9:54 pm, ssharma sharma <sujo...@gmail.com> wrote:
>>> > Hello Friends,
>>> > thanks for reading and for your support on my earlier article on ICICI
>>> Bank
>>> > Home loan - strategy. Within a month I write again on the recent
>>> > developments with ICICI.
>>> > Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys
>>> > discloses cash-parking points.
>>> > A snippet for the article below for your understanding......
>>> > *In an interesting subtext, Infosys has shifted Rs 1,000 crore from
>>> ICICI
>>> > Bank to State Bank of India over the past nine months. Today, it has a
>>> mere
>>> > Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs
>>> > 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
>>> > Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of
>>> India
>>> > and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528
>>> crore
>>> > in Canara Bank.
>>> > Clearly shows companies like Infosys, are moving away from MNC such as
>>> > ICICI. In fact only the salary account of the employees are still
>>> maintained
>>> > with ICICI and the rest of their cash deposits is lying with all
>>> leading
>>> > Indian banks. ICICI bank is surely heading for a disaster, or else
>>> companies
>>> > like Infosys etc are not doing these without some market knowledge on
>>> the
>>> > future of ICICI bank.
>>> > The day is NOT far off ... i wont be surprised if this happens in less
>>> than
>>> > 6 months.... again let me say to you .... DO NOT BANK WITH ICICI ....
>>> Get
>>> > your home loan, auto loan, personal loan and everything out of
>>> here..... DO
>>> > NOT even leave your salary stay in the account for more than a day....
>>> move
>>> > it to your other banks...... leave a Standing instruction to make the
>>> > Transfer.
>>> > Ironically, the salary account of Satyam is also with ICICI Bank ...
>>> imagine
>>> > starting February 2009, ICICI bank is not going to have the salary of
>>> 53000
>>> > odd employees money come in .... which is going to be another BIG HIT
>>> on
>>> > them .....
>>> > Let me wish Good Luck again, this time NOT to you people who are
>>> reading
>>> > this ..... but to ICICI
>>> > --
>>> > Try not to become the man of success,but rather try to become a man of
>>> > value.
>>> > Albert Einstein
>> ------------------------------
>> Add more friends to your messenger and enjoy! Invite them now.
ICICI bank has higher NPA because it is more aggressive. I agree to the fact that there are several unhappy ICICI Bank customers. But most of the time the mistake is on the customers side. ICICI Bank charges high service fees for most of its services and justifiably so. Customers often do not read the fine print where these charges are mentioned and after they are charged they cry foul saying they were not told about these charges earlier.
Most people forget the positive side of ICICI Bank. ICICI bank is the pioneer of banking in India. A few years back I vividly remember having to go to SBI branch twice and being made to wait for more than an hour to meet the manager just to request for a cheque book. The manager asked me several questions before he would even sanction a cheque book. A year later I opened an account with ICICI bank and all I had to do is login to my account online and place a request online for the cheque book. If not for ICICI Bank we would still be using primitive technology for banking.
Generally people feel that a public sector bank is much more safe than a private sector bank. This is because of the soverign guarantee attached to dealing with a PSU bank. However, what people fail to realize is the fact that all deposits in any bank in India up to 1 lakh are insured by DICGC and the default risk is NIL. ICICI bank is as safe as any other PSU bank.
----- Original Message ----- From: ssharma sharma To: aiii@googlegroups.com ; nitin.balw...@adventity.com Sent: Sunday, January 18, 2009 5:16 PM
Subject: <<Aiii>> Re: beware of icici bank
Mr nitin you are working in icici bank and so your views are obviously biased.i do not work in any bank but i do have opportunity to interact with banks a the grassroot l;evel as i have savings bank account with them.From my 8 years experience of banking with icici bank I can say icici bank is worlds most unethical and customer unfriendly bank.Since you are an ICICI BANK EMPLOYEE it will be better if you resolve the grievances of 702 customers in MOUTHSHUT.COM rather than wasting your time here to ARTIFICIALLY PROP THE SHARES OF ICICI BANK.
You can buy more icici bank shares AND ALSO SATYAM SHARES AS THEY ARE AVAILABLE AT 90% discount.Can you deny that ICICI BANK HAS HIGHEST NPAs AMONG ALL BANKS.About thjis CASA ,Wait for DECEMBER quarter , results CASA will also change.Why talk about OCTOBER ,We are in january 2009 and you are talking FD rates of oct 2008.YES BANK is a private bank so not suitable fopr comparison.
About shares of icici bank,Following are facts
CMP BV
ICICI BANK 424 417
HDFC BANK 937 272
AXIS BANK 444 244
SBI 1165 772
ICICI BANK is quoting BELOW BOOK VALUE BCOZ ITS A RISKY BANK WITH HUGE NPAS AND HUGE DERIVATIVE LOSSES WHICH IS NOT THE CASE WITH WITH HDFC BANK<AXIS BANK ANS SBI.That ICICI BANK is quoting BELOW BBOK VALUE IS NOTHING TO BE HAPPY It shows the real worth of ICICI BANK.Investors who were sold ICICI BANK SHARES @1000 in IPO are licking their wounds.At that time also knowledgeable retail investors didnt invest and the retail portion was under subscribed.
Nitin INDIAN OVERSEAS BANK has recently advertised 1400 PROBATIONARY OFFICER POSTS Apply for it and get out of this SINKING SHIP OF ICICI BANK.
For yopur infi I DO NOT WORK IN ANY BANK BUT I AM A VORACIOUS READER AND MY GOAL IS TO SAFEGUARD THE INTEREST OF SMALL INVESTORS WHO ARE EASILY INFUENCED BY MEDIA HYPE AND SHAHRUKH KHAN ADVT OF IOCICI BANK.Instead of wasting orecious money of acciunt holders ICICI BANK should solve the grievances of 720 harassed customers of icici bank.That is the only way ICICI BANK CAN COME OUT OF COMA.
Since you are an ICICI BANK EMLOYEE I can understand your frustration ans sympathise wity you.
On Fri, Jan 16, 2009 at 6:01 PM, Nitin B <nitin.balw...@adventity.com> wrote:
Guys,
Very interesting how we make conclusions without complete facts. Let
me give you a fact and a few questions. Answer would be obvious to
you:
Fact
1. SBI and Yes bank were offering 14% on bulk deposits in October,
obviously money was going to move to SBI.
Questions
1. Why, as a company, I will move my money from one bank but would
leave all my employees money in the same bank and send salaries
there?? Am I not bothered about inconveniencing my employees, the only
asset for an IT company.
2. Regarding salary to Satyam's employees, why would the bank take a
hit, it is a deposit made by the company in the salary accounts which
can be then withdrawn by the employees. No deposits, no money for
withdrawal. Bank is not giving loan against salary, so no hit.
Looks like Mr Sharma works in a bank which has been badly affected by
ICICI, hence these panic attacks.
For your information, ICICI bank has the lowest SME loan portfolio,
most of the big corporates bank with it, only bank which went slow on
loan disbursal in the last two years, cleaning its balance sheet and
lending only to top corporates, and is available at book/ lower than
book value (amongst all the private sector banks).
Thanks to Mr Sharma, we get opportunities to buy banks like these.
If you get us some concrete analysis, we would be grateful. Otherwise,
please don't spread baseless rumours. Thanks.
-- Try not to become the man of success,but rather try to become a man of value.
Albert Einstein
Very interesting mr sharma. Thank you so much for your sympathies. A disclaimer first: i am not an employee of icici bank, nor do i hold any shares at this moment.
Now lets handle you queries: 1. FYI sbi has the highest level of consumer complaints. 2. Its CASA deposits are low because RBI did not allow it to grow its branches fast because of PSU bank pressure. Its CASA would be low this quarter thanks to deposit run by people like you wwho believe in rumors. This is because of poor understanding of balance sheets. Do you think centurian banks balance sheet was good when HDFC bank took it over. ICICI banks fifty percent is corporate, 25 is mortgage and the rest is retail. Even when we assume 10 percent default in retail, bank does not suffer because of high capital adequacy. Regarding derivatives, i don't know what losses are you referring to, client's losses - which client pays, or intl CDS mark to market losses - which are of top indian corporates like reliance, tata, etc. Saying there would be losses there would be akin to saying all top indian corporates would default and go bankrupt. In which case, better sell all stocks rather than this bank alone.
The point i wish to make is simple, when the market has rumours without any concrete basis, and is expecting the worst from the stock, that is probably a time to buy. Satyams case is different. It has a huge known problem so you cant put a value to it and hence does not fall under the same category.
icici bank is worlds most unethical and customer unfriendly bank- if that is the case, lets shut RBI and SEBI too as they are allowing such a bank to grow and raise money from public. If that is the case what does that make you, having any account with it for 8 years.
So please dont make it a personal issue, lets put all the facts on table and let everyone decide whether a investment is warranteed or any exit. Spreading rumors without supporting facts, lets leave that to uneducated and naive investors who always end up losing value. Lets talk facts and analysis.
Date: Sun, 18 Jan 2009 17:16:29 To: <aiii@googlegroups.com>; <nitin.balw...@adventity.com>
Subject: Re: <<Aiii>> Re: beware of icici bank
Mr nitin you are working in icici bank and so your views are obviously
biased.i do not work in any bank but i do have opportunity to interact with
banks a the grassroot l;evel as i have savings bank account with them.From
my 8 years experience of banking with icici bank I can say icici bank is
worlds most unethical and customer unfriendly bank.Since you are an ICICI
BANK EMPLOYEE it will be better if you resolve the grievances of 702
customers in MOUTHSHUT.COM rather than wasting your time here to
ARTIFICIALLY PROP THE SHARES OF ICICI BANK.
You can buy more icici bank shares AND ALSO SATYAM SHARES AS THEY ARE
AVAILABLE AT 90% discount.Can you deny that ICICI BANK HAS HIGHEST NPAs
AMONG ALL BANKS.About thjis CASA ,Wait for DECEMBER quarter , results CASA
will also change.Why talk about OCTOBER ,We are in january 2009 and you are
talking FD rates of oct 2008.YES BANK is a private bank so not suitable fopr
comparison.
About shares of icici bank,Following are facts
CMP BV
ICICI BANK 424 417
HDFC BANK 937 272
AXIS BANK 444 244
SBI 1165 772
ICICI BANK is quoting BELOW BOOK VALUE BCOZ ITS A RISKY BANK WITH HUGE NPAS
AND HUGE DERIVATIVE LOSSES WHICH IS NOT THE CASE WITH WITH HDFC BANK<AXIS
BANK ANS SBI.That ICICI BANK is quoting BELOW BBOK VALUE IS NOTHING TO BE
HAPPY It shows the real worth of ICICI BANK.Investors who were sold ICICI
BANK SHARES @1000 in IPO are licking their wounds.At that time also
knowledgeable retail investors didnt invest and the retail portion was under
subscribed.
Nitin INDIAN OVERSEAS BANK has recently advertised 1400 PROBATIONARY OFFICER
POSTS Apply for it and get out of this SINKING SHIP OF ICICI BANK.
For yopur infi I DO NOT WORK IN ANY BANK BUT I AM A VORACIOUS READER AND MY
GOAL IS TO SAFEGUARD THE INTEREST OF SMALL INVESTORS WHO ARE EASILY
INFUENCED BY MEDIA HYPE AND SHAHRUKH KHAN ADVT OF IOCICI BANK.Instead of
wasting orecious money of acciunt holders ICICI BANK should solve the
grievances of 720 harassed customers of icici bank.That is the only way
ICICI BANK CAN COME OUT OF COMA.
Since you are an ICICI BANK EMLOYEE I can understand your frustration ans
sympathise wity you.
On Fri, Jan 16, 2009 at 6:01 PM, Nitin B <nitin.balw...@adventity.com>wrote:
> Guys,
> Very interesting how we make conclusions without complete facts. Let
> me give you a fact and a few questions. Answer would be obvious to
> you:
> Fact
> 1. SBI and Yes bank were offering 14% on bulk deposits in October,
> obviously money was going to move to SBI.
> Questions
> 1. Why, as a company, I will move my money from one bank but would
> leave all my employees money in the same bank and send salaries
> there?? Am I not bothered about inconveniencing my employees, the only
> asset for an IT company.
> 2. Regarding salary to Satyam's employees, why would the bank take a
> hit, it is a deposit made by the company in the salary accounts which
> can be then withdrawn by the employees. No deposits, no money for
> withdrawal. Bank is not giving loan against salary, so no hit.
> Looks like Mr Sharma works in a bank which has been badly affected by
> ICICI, hence these panic attacks.
> For your information, ICICI bank has the lowest SME loan portfolio,
> most of the big corporates bank with it, only bank which went slow on
> loan disbursal in the last two years, cleaning its balance sheet and
> lending only to top corporates, and is available at book/ lower than
> book value (amongst all the private sector banks).
> Thanks to Mr Sharma, we get opportunities to buy banks like these.
> If you get us some concrete analysis, we would be grateful. Otherwise,
> please don't spread baseless rumours. Thanks.
-- Try not to become the man of success,but rather try to become a man of
value.
Albert Einstein
Nitin will you please tell me why allthe rumours are only about icici bank
why there are no rumours against hdfc bank,axis bank or sbi bank.You dont
hold icici bank shares now but you were having it in october 2008 and from
your earlier reply you also plan to buy more if their is afall.So you have a
vested interest in icici bank.
Why dont you spread rumours about hdfc bank,axis bank or SBi Let me see how
many people believe you.
Wait for some time PROPERTY BUBBLE HAS BURST and ICICI BANK HAS HUGE
EXPOSURE TO HOME LOANS often without checking creditworthiness as some
people call here agressive banking.Its NPAs will rise further but you should
be happy you will get opportunities to buy icici bank shares at one fourth
of icici banks book value.
For your kind info i have closed account 2 years back and since i have
experience of 8 years of banking with them i know that they have systems in
place to loot from customers account.
SBI has highest no of complaints.Can you name me one blog which is dedicated
to sbi complaints.its complaints are much lesser than icici bank.
On Sun, Jan 18, 2009 at 10:51 PM, <nitin.balw...@adventity.com> wrote:
> Very interesting mr sharma. Thank you so much for your sympathies. A
> disclaimer first: i am not an employee of icici bank, nor do i hold any
> shares at this moment.
> Now lets handle you queries:
> 1. FYI sbi has the highest level of consumer complaints.
> 2. Its CASA deposits are low because RBI did not allow it to grow its
> branches fast because of PSU bank pressure. Its CASA would be low this
> quarter thanks to deposit run by people like you wwho believe in rumors.
> This is because of poor understanding of balance sheets. Do you think
> centurian banks balance sheet was good when HDFC bank took it over. ICICI
> banks fifty percent is corporate, 25 is mortgage and the rest is retail.
> Even when we assume 10 percent default in retail, bank does not suffer
> because of high capital adequacy.
> Regarding derivatives, i don't know what losses are you referring to,
> client's losses - which client pays, or intl CDS mark to market losses -
> which are of top indian corporates like reliance, tata, etc. Saying there
> would be losses there would be akin to saying all top indian corporates
> would default and go bankrupt. In which case, better sell all stocks rather
> than this bank alone.
> The point i wish to make is simple, when the market has rumours without any
> concrete basis, and is expecting the worst from the stock, that is probably
> a time to buy. Satyams case is different. It has a huge known problem so you
> cant put a value to it and hence does not fall under the same category.
> icici bank is worlds most unethical and customer unfriendly bank- if that
> is the case, lets shut RBI and SEBI too as they are allowing such a bank to
> grow and raise money from public. If that is the case what does that make
> you, having any account with it for 8 years.
> So please dont make it a personal issue, lets put all the facts on table
> and let everyone decide whether a investment is warranteed or any exit.
> Spreading rumors without supporting facts, lets leave that to uneducated and
> naive investors who always end up losing value. Lets talk facts and
> analysis.
> Have fun.
> N
> Sent from BlackBerry(R) on Airtel
> ------------------------------
> *From*: ssharma sharma
> *Date*: Sun, 18 Jan 2009 17:16:29 +0530
> *To*: <aiii@googlegroups.com>; <nitin.balw...@adventity.com>
> *Subject*: Re: <<Aiii>> Re: beware of icici bank
> Mr nitin you are working in icici bank and so your views are obviously
> biased.i do not work in any bank but i do have opportunity to interact with
> banks a the grassroot l;evel as i have savings bank account with them.From
> my 8 years experience of banking with icici bank I can say icici bank is
> worlds most unethical and customer unfriendly bank.Since you are an ICICI
> BANK EMPLOYEE it will be better if you resolve the grievances of 702
> customers in MOUTHSHUT.COM rather than wasting your time here to
> ARTIFICIALLY PROP THE SHARES OF ICICI BANK.
> You can buy more icici bank shares AND ALSO SATYAM SHARES AS THEY ARE
> AVAILABLE AT 90% discount.Can you deny that ICICI BANK HAS HIGHEST NPAs
> AMONG ALL BANKS.About thjis CASA ,Wait for DECEMBER quarter , results CASA
> will also change.Why talk about OCTOBER ,We are in january 2009 and you are
> talking FD rates of oct 2008.YES BANK is a private bank so not suitable fopr
> comparison.
> About shares of icici bank,Following are facts
> CMP BV
> ICICI BANK 424 417
> HDFC BANK 937 272
> AXIS BANK 444 244
> SBI 1165 772
> ICICI BANK is quoting BELOW BOOK VALUE BCOZ ITS A RISKY BANK WITH HUGE NPAS
> AND HUGE DERIVATIVE LOSSES WHICH IS NOT THE CASE WITH WITH HDFC BANK<AXIS
> BANK ANS SBI.That ICICI BANK is quoting BELOW BBOK VALUE IS NOTHING TO BE
> HAPPY It shows the real worth of ICICI BANK.Investors who were sold ICICI
> BANK SHARES @1000 in IPO are licking their wounds.At that time also
> knowledgeable retail investors didnt invest and the retail portion was under
> subscribed.
> Nitin INDIAN OVERSEAS BANK has recently advertised 1400 PROBATIONARY
> OFFICER POSTS Apply for it and get out of this SINKING SHIP OF ICICI BANK.
> For yopur infi I DO NOT WORK IN ANY BANK BUT I AM A VORACIOUS READER AND MY
> GOAL IS TO SAFEGUARD THE INTEREST OF SMALL INVESTORS WHO ARE EASILY
> INFUENCED BY MEDIA HYPE AND SHAHRUKH KHAN ADVT OF IOCICI BANK.Instead of
> wasting orecious money of acciunt holders ICICI BANK should solve the
> grievances of 720 harassed customers of icici bank.That is the only way
> ICICI BANK CAN COME OUT OF COMA.
> Since you are an ICICI BANK EMLOYEE I can understand your frustration ans
> sympathise wity you.
> On Fri, Jan 16, 2009 at 6:01 PM, Nitin B <nitin.balw...@adventity.com>wrote:
>> Guys,
>> Very interesting how we make conclusions without complete facts. Let
>> me give you a fact and a few questions. Answer would be obvious to
>> you:
>> Fact
>> 1. SBI and Yes bank were offering 14% on bulk deposits in October,
>> obviously money was going to move to SBI.
>> Questions
>> 1. Why, as a company, I will move my money from one bank but would
>> leave all my employees money in the same bank and send salaries
>> there?? Am I not bothered about inconveniencing my employees, the only
>> asset for an IT company.
>> 2. Regarding salary to Satyam's employees, why would the bank take a
>> hit, it is a deposit made by the company in the salary accounts which
>> can be then withdrawn by the employees. No deposits, no money for
>> withdrawal. Bank is not giving loan against salary, so no hit.
>> Looks like Mr Sharma works in a bank which has been badly affected by
>> ICICI, hence these panic attacks.
>> For your information, ICICI bank has the lowest SME loan portfolio,
>> most of the big corporates bank with it, only bank which went slow on
>> loan disbursal in the last two years, cleaning its balance sheet and
>> lending only to top corporates, and is available at book/ lower than
>> book value (amongst all the private sector banks).
>> Thanks to Mr Sharma, we get opportunities to buy banks like these.
>> If you get us some concrete analysis, we would be grateful. Otherwise,
>> please don't spread baseless rumours. Thanks.
> --
> Try not to become the man of success,but rather try to become a man of
> value.
> Albert Einstein
-- Try not to become the man of success,but rather try to become a man of
value.
Albert Einstein
Its good to share each one's view here,
And its upto the members to take there on decession.
May be this news can be correct after months or weeks....
At that time all member in this group will remember this guy who break this
news!!!!!!
May the fittest survive!!!!
Regards,
dixon
On 1/17/09, Deepak kabra <deepakdka...@gmail.com> wrote:
> I am really disappointed to see tha a bank who changed the banking in india
> which is pioneer in all respect is treated like this
> remeber those days when Demand draft request used to take one day even in
> so called best bank SBI. Today the technology you are using is upgarded
> because of the ICICI Bank.
> I just fail to understand that if someone is giving you benefit of 10
> rupees extra and chargin one rupee out of that what is the harm.
> beside that in the world map if any bank has given india any name that is
> icici bank
> On 1/17/09, Nice n cool rahul 4 u only <reply_with_l...@yahoo.com> wrote:
>> Why not,
>> ICICI Bank is worst bank in every issue being customer care,quality of
>> loan and they are cheater no. 1, so readers should be beware of icici bank..
>> Whenever you keep relationship with this cheater bank either for cards or
>> for loan you will be cheated. Even if you keep normal saving account so many
>> charges will come in your ledger
>> --- On *Fri, 16/1/09, senthil kumar <kumarsh...@gmail.com>* wrote:
>> From: senthil kumar <kumarsh...@gmail.com>
>> Subject: <<Aiii>> Re: beware of icici bank
>> To: aiii@googlegroups.com
>> Date: Friday, 16 January, 2009, 5:10 PM
>> Mr. Sharma
>> I too agree with our Pal comments , Please don't spread rumours about any
>> banks including ICICI as we are in very critical situation in both economy
>> and confidence level among every body is very low.
>> Note that every bank had NPA , if you don't want NPA then you can't lend
>> it means you can't do business.
>> Know the facts .
>> On Fri, Jan 16, 2009 at 4:37 PM, Aks Seth <aks120...@gmail.com> wrote:
>>> Well !! Well !! :)
>>> Mr. Sharma
>>> One bit of suggestion. If ICICI bank is doomed - you are better off
>>> keeping all your loans (home loan, auto loan etc etc.) with them and
>>> only take away your deposits from them. LOL.
>>> No offence intended. Just joking - one gets to joke around less in
>>> such turbulent times.
>>> Mr. Sharma, while I appreciate your concern and in spirit even share
>>> it. However, currently predicting the crash of ICICI bank seems a too
>>> hasty. So if you do not feel safe with them - by all means move away
>>> from them (infy did that) - but I guess others can be left to decide
>>> more rationally.
>>> Thanks and Regards
>>> PS. I am surely not related to ICICI and also not related to Mr.
>>> Sharma :)
>>> On Jan 15, 9:54 pm, ssharma sharma <sujo...@gmail.com> wrote:
>>> > Hello Friends,
>>> > thanks for reading and for your support on my earlier article on ICICI
>>> Bank
>>> > Home loan - strategy. Within a month I write again on the recent
>>> > developments with ICICI.
>>> > Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys
>>> > discloses cash-parking points.
>>> > A snippet for the article below for your understanding......
>>> > *In an interesting subtext, Infosys has shifted Rs 1,000 crore from
>>> ICICI
>>> > Bank to State Bank of India over the past nine months. Today, it has a
>>> mere
>>> > Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs
>>> > 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
>>> > Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of
>>> India
>>> > and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528
>>> crore
>>> > in Canara Bank.
>>> > Clearly shows companies like Infosys, are moving away from MNC such as
>>> > ICICI. In fact only the salary account of the employees are still
>>> maintained
>>> > with ICICI and the rest of their cash deposits is lying with all
>>> leading
>>> > Indian banks. ICICI bank is surely heading for a disaster, or else
>>> companies
>>> > like Infosys etc are not doing these without some market knowledge on
>>> the
>>> > future of ICICI bank.
>>> > The day is NOT far off ... i wont be surprised if this happens in less
>>> than
>>> > 6 months.... again let me say to you .... DO NOT BANK WITH ICICI ....
>>> Get
>>> > your home loan, auto loan, personal loan and everything out of
>>> here..... DO
>>> > NOT even leave your salary stay in the account for more than a day....
>>> move
>>> > it to your other banks...... leave a Standing instruction to make the
>>> > Transfer.
>>> > Ironically, the salary account of Satyam is also with ICICI Bank ...
>>> imagine
>>> > starting February 2009, ICICI bank is not going to have the salary of
>>> 53000
>>> > odd employees money come in .... which is going to be another BIG HIT
>>> on
>>> > them .....
>>> > Let me wish Good Luck again, this time NOT to you people who are
>>> reading
>>> > this ..... but to ICICI
>>> > --
>>> > Try not to become the man of success,but rather try to become a man of
>>> > value.
>>> > Albert Einstein
>> ------------------------------
>> Add more friends to your messenger and enjoy! Invite them now.
I agree with you.
This is the mindset which has to change, I know for a fact that customer
service in some places is having issues, and there is no doubt they are
facing issues to cater to the huge amount of demand/calls to the customer
service people espcially during peak hours.
but is it the only way to judge a bank which revolutionalised Indian
banking?, I give credit to ICICI bank for the way it created extremely
competetive atmosphere and helped the PSU banks to be innovative, use
technology etc. ICICI bank actually helped india middle class in a big way
by making them realise the extent to which retail banking can go and help in
the financial planning of a retail guy.
which is the reason why, we should not judge a company by the amount of time
they take to respond to 'my' call, amount of time I spend to get 'my' work
done. its time to think beyond self and look at the bigger picture. the bank
management knows there is a little bit of problem in customer service, they
are working overtime to resolve it and under the dynamic leadership of
Kamath, Chanda- I have no doubts the bank will comeout with flying
colors from all these malicious romours to tarnish the image of ICICI bank.
meanwhile lets be patient and give them sometime.
On Sat, Jan 17, 2009 at 12:30 PM, Deepak kabra <deepakdka...@gmail.com>wrote:
> I am really disappointed to see tha a bank who changed the banking in india
> which is pioneer in all respect is treated like this
> remeber those days when Demand draft request used to take one day even in
> so called best bank SBI. Today the technology you are using is upgarded
> because of the ICICI Bank.
> I just fail to understand that if someone is giving you benefit of 10
> rupees extra and chargin one rupee out of that what is the harm.
> beside that in the world map if any bank has given india any name that is
> icici bank
> On 1/17/09, Nice n cool rahul 4 u only <reply_with_l...@yahoo.com>
> wrote:
>> Why not,
>> ICICI Bank is worst bank in every issue being customer care,quality of
>> loan and they are cheater no. 1, so readers should be beware of icici bank..
>> Whenever you keep relationship with this cheater bank either for cards or
>> for loan you will be cheated. Even if you keep normal saving account so many
>> charges will come in your ledger
>> --- On *Fri, 16/1/09, senthil kumar <kumarsh...@gmail.com>* wrote:
>> From: senthil kumar <kumarsh...@gmail.com>
>> Subject: <<Aiii>> Re: beware of icici bank
>> To: aiii@googlegroups.com
>> Date: Friday, 16 January, 2009, 5:10 PM
>> Mr. Sharma
>> I too agree with our Pal comments , Please don't spread rumours about any
>> banks including ICICI as we are in very critical situation in both economy
>> and confidence level among every body is very low.
>> Note that every bank had NPA , if you don't want NPA then you can't lend
>> it means you can't do business.
>> Know the facts .
>> On Fri, Jan 16, 2009 at 4:37 PM, Aks Seth <aks120...@gmail.com> wrote:
>>> Well !! Well !! :)
>>> Mr. Sharma
>>> One bit of suggestion. If ICICI bank is doomed - you are better off
>>> keeping all your loans (home loan, auto loan etc etc.) with them and
>>> only take away your deposits from them. LOL.
>>> No offence intended. Just joking - one gets to joke around less in
>>> such turbulent times.
>>> Mr. Sharma, while I appreciate your concern and in spirit even share
>>> it. However, currently predicting the crash of ICICI bank seems a too
>>> hasty. So if you do not feel safe with them - by all means move away
>>> from them (infy did that) - but I guess others can be left to decide
>>> more rationally.
>>> Thanks and Regards
>>> PS. I am surely not related to ICICI and also not related to Mr.
>>> Sharma :)
>>> On Jan 15, 9:54 pm, ssharma sharma <sujo...@gmail.com> wrote:
>>> > Hello Friends,
>>> > thanks for reading and for your support on my earlier article on ICICI
>>> Bank
>>> > Home loan - strategy. Within a month I write again on the recent
>>> > developments with ICICI.
>>> > Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys
>>> > discloses cash-parking points.
>>> > A snippet for the article below for your understanding......
>>> > *In an interesting subtext, Infosys has shifted Rs 1,000 crore from
>>> ICICI
>>> > Bank to State Bank of India over the past nine months. Today, it has a
>>> mere
>>> > Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs
>>> > 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
>>> > Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of
>>> India
>>> > and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528
>>> crore
>>> > in Canara Bank.
>>> > Clearly shows companies like Infosys, are moving away from MNC such as
>>> > ICICI. In fact only the salary account of the employees are still
>>> maintained
>>> > with ICICI and the rest of their cash deposits is lying with all
>>> leading
>>> > Indian banks. ICICI bank is surely heading for a disaster, or else
>>> companies
>>> > like Infosys etc are not doing these without some market knowledge on
>>> the
>>> > future of ICICI bank.
>>> > The day is NOT far off ... i wont be surprised if this happens in less
>>> than
>>> > 6 months.... again let me say to you .... DO NOT BANK WITH ICICI ....
>>> Get
>>> > your home loan, auto loan, personal loan and everything out of
>>> here..... DO
>>> > NOT even leave your salary stay in the account for more than a day....
>>> move
>>> > it to your other banks...... leave a Standing instruction to make the
>>> > Transfer.
>>> > Ironically, the salary account of Satyam is also with ICICI Bank ...
>>> imagine
>>> > starting February 2009, ICICI bank is not going to have the salary of
>>> 53000
>>> > odd employees money come in .... which is going to be another BIG HIT
>>> on
>>> > them .....
>>> > Let me wish Good Luck again, this time NOT to you people who are
>>> reading
>>> > this ..... but to ICICI
>>> > --
>>> > Try not to become the man of success,but rather try to become a man of
>>> > value.
>>> > Albert Einstein
>> ------------------------------
>> Add more friends to your messenger and enjoy! Invite them now.
Wwhat you are saying is that satyam's raju is no thief because there are no rumours.
Rumours dont make a thief, facts do.
Pls put facts on the table otherwise there is no basis for discussion.
Just to answer mortgage also, there are black money transactions also involved and indians would take personal loans to pay their mortgage instalments so mortgage usually have the lowest rate of default and because of being asset backed is much easier to flip around and recover your loan.
And to answer, i will buy if i find no plausible reason in my analysis and no facts supporting the rumours. You would agree that RBI knows much more than you and me, and if it is allowing the bank to expand and its governer vouches for bank's assets after having done due diligence, then i will tend to believe him more than any rumour.
My final argument, all the fund managers, whether foreign or indian, have increased their investment in bank shares. Maybe all of them are idiots too. Time will tell.
Date: Sun, 18 Jan 2009 23:06:32 To: <nitin.balw...@adventity.com>
Cc: <aiii@googlegroups.com>
Subject: Re: <<Aiii>> Re: beware of icici bank
Nitin will you please tell me why allthe rumours are only about icici bank
why there are no rumours against hdfc bank,axis bank or sbi bank.You dont
hold icici bank shares now but you were having it in october 2008 and from
your earlier reply you also plan to buy more if their is afall.So you have a
vested interest in icici bank.
Why dont you spread rumours about hdfc bank,axis bank or SBi Let me see how
many people believe you.
Wait for some time PROPERTY BUBBLE HAS BURST and ICICI BANK HAS HUGE
EXPOSURE TO HOME LOANS often without checking creditworthiness as some
people call here agressive banking.Its NPAs will rise further but you should
be happy you will get opportunities to buy icici bank shares at one fourth
of icici banks book value.
For your kind info i have closed account 2 years back and since i have
experience of 8 years of banking with them i know that they have systems in
place to loot from customers account.
SBI has highest no of complaints.Can you name me one blog which is dedicated
to sbi complaints.its complaints are much lesser than icici bank.
On Sun, Jan 18, 2009 at 10:51 PM, <nitin.balw...@adventity.com> wrote:
> Very interesting mr sharma. Thank you so much for your sympathies. A
> disclaimer first: i am not an employee of icici bank, nor do i hold any
> shares at this moment.
> Now lets handle you queries:
> 1. FYI sbi has the highest level of consumer complaints.
> 2. Its CASA deposits are low because RBI did not allow it to grow its
> branches fast because of PSU bank pressure. Its CASA would be low this
> quarter thanks to deposit run by people like you wwho believe in rumors.
> This is because of poor understanding of balance sheets. Do you think
> centurian banks balance sheet was good when HDFC bank took it over. ICICI
> banks fifty percent is corporate, 25 is mortgage and the rest is retail.
> Even when we assume 10 percent default in retail, bank does not suffer
> because of high capital adequacy.
> Regarding derivatives, i don't know what losses are you referring to,
> client's losses - which client pays, or intl CDS mark to market losses -
> which are of top indian corporates like reliance, tata, etc. Saying there
> would be losses there would be akin to saying all top indian corporates
> would default and go bankrupt. In which case, better sell all stocks rather
> than this bank alone.
> The point i wish to make is simple, when the market has rumours without any
> concrete basis, and is expecting the worst from the stock, that is probably
> a time to buy. Satyams case is different. It has a huge known problem so you
> cant put a value to it and hence does not fall under the same category.
> icici bank is worlds most unethical and customer unfriendly bank- if that
> is the case, lets shut RBI and SEBI too as they are allowing such a bank to
> grow and raise money from public. If that is the case what does that make
> you, having any account with it for 8 years.
> So please dont make it a personal issue, lets put all the facts on table
> and let everyone decide whether a investment is warranteed or any exit.
> Spreading rumors without supporting facts, lets leave that to uneducated and
> naive investors who always end up losing value. Lets talk facts and
> analysis.
> Have fun.
> N
> Sent from BlackBerry(R) on Airtel
> ------------------------------
> *From*: ssharma sharma
> *Date*: Sun, 18 Jan 2009 17:16:29 +0530
> *To*: <aiii@googlegroups.com>; <nitin.balw...@adventity.com>
> *Subject*: Re: <<Aiii>> Re: beware of icici bank
> Mr nitin you are working in icici bank and so your views are obviously
> biased.i do not work in any bank but i do have opportunity to interact with
> banks a the grassroot l;evel as i have savings bank account with them.From
> my 8 years experience of banking with icici bank I can say icici bank is
> worlds most unethical and customer unfriendly bank.Since you are an ICICI
> BANK EMPLOYEE it will be better if you resolve the grievances of 702
> customers in MOUTHSHUT.COM rather than wasting your time here to
> ARTIFICIALLY PROP THE SHARES OF ICICI BANK.
> You can buy more icici bank shares AND ALSO SATYAM SHARES AS THEY ARE
> AVAILABLE AT 90% discount.Can you deny that ICICI BANK HAS HIGHEST NPAs
> AMONG ALL BANKS.About thjis CASA ,Wait for DECEMBER quarter , results CASA
> will also change.Why talk about OCTOBER ,We are in january 2009 and you are
> talking FD rates of oct 2008.YES BANK is a private bank so not suitable fopr
> comparison.
> About shares of icici bank,Following are facts
> CMP BV
> ICICI BANK 424 417
> HDFC BANK 937 272
> AXIS BANK 444 244
> SBI 1165 772
> ICICI BANK is quoting BELOW BOOK VALUE BCOZ ITS A RISKY BANK WITH HUGE NPAS
> AND HUGE DERIVATIVE LOSSES WHICH IS NOT THE CASE WITH WITH HDFC BANK<AXIS
> BANK ANS SBI.That ICICI BANK is quoting BELOW BBOK VALUE IS NOTHING TO BE
> HAPPY It shows the real worth of ICICI BANK.Investors who were sold ICICI
> BANK SHARES @1000 in IPO are licking their wounds.At that time also
> knowledgeable retail investors didnt invest and the retail portion was under
> subscribed.
> Nitin INDIAN OVERSEAS BANK has recently advertised 1400 PROBATIONARY
> OFFICER POSTS Apply for it and get out of this SINKING SHIP OF ICICI BANK.
> For yopur infi I DO NOT WORK IN ANY BANK BUT I AM A VORACIOUS READER AND MY
> GOAL IS TO SAFEGUARD THE INTEREST OF SMALL INVESTORS WHO ARE EASILY
> INFUENCED BY MEDIA HYPE AND SHAHRUKH KHAN ADVT OF IOCICI BANK.Instead of
> wasting orecious money of acciunt holders ICICI BANK should solve the
> grievances of 720 harassed customers of icici bank.That is the only way
> ICICI BANK CAN COME OUT OF COMA.
> Since you are an ICICI BANK EMLOYEE I can understand your frustration ans
> sympathise wity you.
> On Fri, Jan 16, 2009 at 6:01 PM, Nitin B <nitin.balw...@adventity.com>wrote:
>> Guys,
>> Very interesting how we make conclusions without complete facts. Let
>> me give you a fact and a few questions. Answer would be obvious to
>> you:
>> Fact
>> 1. SBI and Yes bank were offering 14% on bulk deposits in October,
>> obviously money was going to move to SBI.
>> Questions
>> 1. Why, as a company, I will move my money from one bank but would
>> leave all my employees money in the same bank and send salaries
>> there?? Am I not bothered about inconveniencing my employees, the only
>> asset for an IT company.
>> 2. Regarding salary to Satyam's employees, why would the bank take a
>> hit, it is a deposit made by the company in the salary accounts which
>> can be then withdrawn by the employees. No deposits, no money for
>> withdrawal. Bank is not giving loan against salary, so no hit.
>> Looks like Mr Sharma works in a bank which has been badly affected by
>> ICICI, hence these panic attacks.
>> For your information, ICICI bank has the lowest SME loan portfolio,
>> most of the big corporates bank with it, only bank which went slow on
>> loan disbursal in the last two years, cleaning its balance sheet and
>> lending only to top corporates, and is available at book/ lower than
>> book value (amongst all the private sector banks).
>> Thanks to Mr Sharma, we get opportunities to buy banks like these.
>> If you get us some concrete analysis, we would be grateful. Otherwise,
>> please don't spread baseless rumours. Thanks.
> --
> Try not to become the man of success,but rather try to become a man of
> value.
> Albert Einstein
-- Try not to become the man of success,but rather try to become a man of
value.
Albert Einstein
Why only ICICI Bank? We should be careful of all stocks we hold. Especially during the times of slowdown and recession.
We just saw what happened to a company as big as Satyam itself. There are no written guarantees that there won't be any "Replay" of that episode in some other Company.
Having a blind faith doesn't work. Take care of long holdings & play safe - that works. If not in improving the bank balance by tons, but at least in preserving it for a good tomorrow on which we can buy stocks in loads.
In my experience, they are running one of the most unethical banking
companies in India. They do anything and everything to get some business and
the employees are the most unreliable and crooked and work just to earn the
maximum commissions what it cosys to the customer..
I am a NRI Housing Loan customer of ICICI Bank and following is my
experience...
I applied for a home loan for buying a House and some land in 2005. The
proposed land was owned by my uncle and we went to the bank together for
inquiring about the loan and other details. So the bank employees knew that
the seller is my relative. I submitted all the necessary documents for a
loan of about 4.5lakhs while on a vacation there and left India as my
vacation was over. The loan was passed, money was dispersed, and I started
repaying the loan amount. I got the loan allotment letter only after about 6
months as I was not in India. But when i recieved the documents I was so
shocked to see that the loan passed and dispersed was more than 7Lakhs
instead of the 4.5lakhs I applied for. The greedy employee who processed the
loan and my uncle who was the seller collaborated without my or my POA
holder and corrected the loan amount to the new one. Can yo believe any
responsible bank to do such things?
On Mon, Jan 19, 2009 at 10:16 AM, Sarath Chandra <nsara...@gmail.com> wrote:
> Why only ICICI Bank? We should be careful of all stocks we hold.
> Especially during the times of slowdown and recession.
> We just saw what happened to a company as big as Satyam itself. There are
> no written guarantees that there won't be any "Replay" of that episode in
> some other Company.
> Having a blind faith doesn't work. Take care of long holdings & play safe
> - that works. If not in improving the bank balance by tons, but at least in
> preserving it for a good tomorrow on which we can buy stocks in loads.
I agree the fact that being one of first private bank in india to
introduce online banking and interconnected branches ICICI done good
job to make PSU banks to run for their money..
But we all can't deny the fact that icici customer service suc*s and
it's reputation in UK is not good either. In UK icici bank advertise
highest rate of interest on saving deposits and attracting British
Whites as well as NRI's.. but a look at their customer service people
are now turning away from them.
for e.g. The says, once your cheque is in they will send email
confirmation and within 5 days password by post. 70% customer don't
get email confirmation of their account opening and what happens when
you call to their customer centre.. every one know..
Icici know they lack customer service and this is their problem for
last 3-4 years.. and yet they haven't done anything to resolve it...
which is weird..
-- Sidds
On Jan 19, 7:16 am, Sarath Chandra <nsara...@gmail.com> wrote:
> Why only ICICI Bank? We should be careful of all stocks we hold. Especially
> during the times of slowdown and recession.
> We just saw what happened to a company as big as Satyam itself. There are
> no written guarantees that there won't be any "Replay" of that episode in
> some other Company.
> Having a blind faith doesn't work. Take care of long holdings & play safe -
> that works. If not in improving the bank balance by tons, but at least in
> preserving it for a good tomorrow on which we can buy stocks in loads.
I would like to offer my views on Icici Bank, country's second largest
bank.
I have been one of the oldest customers of the bank ( since 2000 ) and i
have never faced any sort of inconvenience or trouble dealing with this
bank. Yes, i did face some log in problems when i was using
icicidirect.com for my trading activity. And even this problem also got
rectified and we dont face any down time as far as trading on icicidirect
is concerned.
If at all someone wants to list the difficulties faced dealing with
the bank, I feel its prudent to take up the matter with the Bank
ambudsman rather than discussing the matter in forums like this, which
are meant basically to educate and disseminate market related knowledge.
I would suggest people to come out with proper proof and evidence about
the deceitful nature of the bank which I very much suspect there being
in existence rather than making baseless allegations. By doing so one
is degrading his own country's mammoth financial institution.
> For the benefit of group members let me also state that INFOSYS has
> withdrawn entire money from BOB (bank of baroda) in the same period as
> per reported data and it has reduced its deposit with one other state
> owned bank also. Decision of a company to park money with one bank or
> the other is a decision of bulk rates offered by these banks and
> company will park funds whereever it gets best rate. .
> LETS TRY AND PRESENT ALL FACTS TO THIS GROUP AND NOT SHOW THEM
> PARTIALLY AND THEN DRAW CONCLUSIONS. I WOULD BE HAPPY HAVE A RESPONSE
> FROM MR SHARMA AS TO WHY INFOSYS HAS WITHDRAWN MONEY FROM A FEW STATE
> OWNED BANKS??
> On Jan 16, 12:54 am, ssharma sharma <sujo...@gmail.com> wrote:
> > Hello Friends,
> > thanks for reading and for your support on my earlier article on ICICI
> Bank
> > Home loan - strategy. Within a month I write again on the recent
> > developments with ICICI.
> > Referene --- Please read TOI Jan 14th 2009 edition -page 20. Infosys
> > discloses cash-parking points.
> > A snippet for the article below for your understanding......
> > *In an interesting subtext, Infosys has shifted Rs 1,000 crore from ICICI
> > Bank to State Bank of India over the past nine months. Today, it has a
> mere
> > Rs 10 crore with ICICI Bank. Its deposits with SBI have doubled from Rs
> > 1,000 crore in March 2008 to Rs 2,000 crore in Dec 2008. *
> > Infosys has parked Rs 500 crore each in State Bank of Mysore, Bank of
> India
> > and Axis Bank. It has Rs 535 crore in Punjab National Bank and Rs 528
> crore
> > in Canara Bank.
> > Clearly shows companies like Infosys, are moving away from MNC such as
> > ICICI. In fact only the salary account of the employees are still
> maintained
> > with ICICI and the rest of their cash deposits is lying with all leading
> > Indian banks. ICICI bank is surely heading for a disaster, or else
> companies
> > like Infosys etc are not doing these without some market knowledge on the
> > future of ICICI bank.
> > The day is NOT far off ... i wont be surprised if this happens in less
> than
> > 6 months.... again let me say to you .... DO NOT BANK WITH ICICI .... Get
> > your home loan, auto loan, personal loan and everything out of here.....
> DO
> > NOT even leave your salary stay in the account for more than a day....
> move
> > it to your other banks...... leave a Standing instruction to make the
> > Transfer.
> > Ironically, the salary account of Satyam is also with ICICI Bank ...
> imagine
> > starting February 2009, ICICI bank is not going to have the salary of
> 53000
> > odd employees money come in .... which is going to be another BIG HIT on
> > them ....
> > Let me wish Good Luck again, this time NOT to you people who are reading
> > this ..... but to ICICI
> > --
> > Try not to become the man of success,but rather try to become a man of
> > value.
> > Albert Einstein
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