ICICI Bank ATMs down - rumor of bankrupt
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Following the crash in US markets and the Lehman Brothers news there has been a rumor that is following lately. I see lot of 
hits on my blog searching for terms like ICICI ATM not working, ICICI ATM down, ICICI bankrupt etc. On doing some research I found out that there is a rumor that us being spread that ICICI bank has become bankrupt.
Following this rumor, people are rushing towards ICICI ATMs to withdraw their money. The main reason for their ATMs not working is not known but the obvious reason to me seems unavailability of cash in the machines or server load.
As per my knowledge, a bank becoming bankrupt does not mean that you will lose all your money in the bank. Your money is always safe because the bank will be taken over by some another bank. So I personally feel there is no need to panic and withdraw your money. Its actually quiet funny to see a huge queue in front of all ICICI ATMs where people are withdrawing all their money.
There is no official news anywhere about ICICI being bankrupt.
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[...] I see lot of hits on my blog searching for terms like ICICI ATM not working, ICICI ATM down, ICICI bankrupt etc. On doing some research I found out that there is a rumor that us being spread that ICICI bank has become bankrupt . …[Continue Reading] [...]