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ICICI Bank
Where is THE Moderator?
Posted by :
libran.Tracked by: 0 Boarder
Hi venus, I appreciate your frank and open comments, I do agree with you compeltely. I think channels and forums like these should be democratic but at same time they should also make sure that messages posted here by anyone are having substance and are not malicious, but to be honest I have lost my respect for CNBC TV18 long back, and no harm for me to say that these message boards are driven to benifit brokers and operators. Everyone of us can understand why just only few bunch of analyst keep showing their ugly faces over and over again, when 90% of their recommendations goes wrong, time has proven not just once but many many times. Udayan and these analyst like Gujral and many others have strong cartel and vested interest to promote some or many stock either ways, when they go up or go down. I am surprised when boarder talk they cant invest, well do one really need to trade or invest on one owns name, in Indian financial system still there are so many loop holes to be plugged in, no one can stop his wife or father or a friend to reade for him... so dont expect much from moderator and channels like CNBC TV18, they have motives to keep playing some sections of news over and over for their benifit... happy investing...
In reply to:
Where is THE Moderator?
Posted by :
venusind2k
The rumours on ICICI bank such as the one claiming that the bank has been borrowing at 35 % to pay staff salary and that bank accounts worth Rs 10000/ Cr etc are being posted merrily on this site. where is the Moderator and why is he failing in his duty. Unconfirmed or statements made on this bank are affecting me as a shareholder of the bank and as its HNI client. Also there are a host of MF investing in ICICI. By not doing his duty at this stage, CNBC Moderator has colluded with Bear cartel worth being dargged to court! 
it may gain
Posted by : vkk43Tracked by: 0 Boarder
Yes I fully agree with u what you write. ICICI bank will give u only 7%. I hv given in a separate post the penalty charges charged by them on premature withdrawal of FD, taken from their website. Thanks....
In reply to:
it may gain
Posted by : libran.
No, with due regards I guess you misunderstood me, say for example you open a saving bank account with a bank and you also open a fixed deposit from that account, now what ever amount is lying in SB account will earm a basic 3.5% but Fd will earn interest according to the tenure you instructed bank for example you decided one year, now for one year ROI(rate of interest) was 10%, but say after 6 months you had an emergency and you went back to bank and asked them that you want to encash your Fd as of some emergency needs, now say for period of 6 months the ROI was 8% at time of opening FD, some banks dont charge anything and will apply 8% interest and pay you your principal and interest at rate of 8%(if incase for first quarter they credited your account at rate of 10% this extra 2%will be adjusted at time of encashment after 6 months) but some banks will not give you 8% but 8%-1% = 7% and will credit your account or give you a cheque of prinicpal plus 7%.
it may gain
Posted by : vkk43Tracked by: 0 Boarder
Giving the details of Premature withdrawal penalty from ICICI website -
Penalty on Pre-mature withdrawal (All Categories) would be applicable as below:
Original Tenure of Deposit Penal Rates *
Less than Rs.50.0 mn Rs.50.0 mn & above
Less than 1 year
0.50% 0.50%
1 year & above but less than 5 years
1.00% 1.00%
5 years
1.00% 1.50%
More than 5 years upto 5 years 3 months
1.00% 1.50%
More than 5 years 3 months upto 10 years
1.00% 1.50%
*Subject to revision without further notice.
...
In reply to:
it may gain
Posted by : man
Are you sure they will charge 1%interest on our capital kept with them as Fixed Deposit ?
They will give less interest but can not charge us for keeping our money in their ad withdrawing due to requirements on personnel ground.
Pl discuss in detail.
it may gain
Posted by : libran.Tracked by: 0 Boarder
If you are saying that if you have saving linked Fd and say your money was lying in Fd for 6 monhts and you needed to withdraw money for some emergency basis and you went back and asked bankers to premature encash your Fd they are bound to give you rate of interest for term deposit for period of months and not a simple rate of interest of 3.5 %..regards...
In reply to:
it may gain
Posted by : libran.
No, with due regards I guess you misunderstood me, say for example you open a saving bank account with a bank and you also open a fixed deposit from that account, now what ever amount is lying in SB account will earm a basic 3.5% but Fd will earn interest according to the tenure you instructed bank for example you decided one year, now for one year ROI(rate of interest) was 10%, but say after 6 months you had an emergency and you went back to bank and asked them that you want to encash your Fd as of some emergency needs, now say for period of 6 months the ROI was 8% at time of opening FD, some banks dont charge anything and will apply 8% interest and pay you your principal and interest at rate of 8%(if incase for first quarter they credited your account at rate of 10% this extra 2%will be adjusted at time of encashment after 6 months) but some banks will not give you 8% but 8%-1% = 7% and will credit your account or give you a cheque of prinicpal plus 7%.
it may gain
Posted by : libran.Tracked by: 0 Boarder
No, with due regards I guess you misunderstood me, say for example you open a saving bank account with a bank and you also open a fixed deposit from that account, now what ever amount is lying in SB account will earm a basic 3.5% but Fd will earn interest according to the tenure you instructed bank for example you decided one year, now for one year ROI(rate of interest) was 10%, but say after 6 months you had an emergency and you went back to bank and asked them that you want to encash your Fd as of some emergency needs, now say for period of 6 months the ROI was 8% at time of opening FD, some banks dont charge anything and will apply 8% interest and pay you your principal and interest at rate of 8%(if incase for first quarter they credited your account at rate of 10% this extra 2%will be adjusted at time of encashment after 6 months) but some banks will not give you 8% but 8%-1% = 7% and will credit your account or give you a cheque of prinicpal plus 7%. ...
In reply to:
it may gain
Posted by : vkk43
I need to explain to you. When we are talking about Savings bank linked FD account, then they are giving us only savings bank account interest @ 3.5% on amount withdrawn from FD. Here how can they charge penalty of 1@. My son, NRI, has many FDs with ICICI Bank and at the same time has many SIP also with MF. So his FDs are credited to his NRO savings account when SIP advice comes to the bank but on such FDs he gets interest only @3.5% and not of FDs rate. Hope I am clear. Otherwise, I will wait for yr msg to clarify this.
Where is THE Moderator?
Posted by : Bull 2008Tracked by: 0 Boarder
ICICI bank has filed a police complaint against mumbai based brokers for spreading rumours about its faliure and also with SEBI. ...
In reply to:
Where is THE Moderator?
Posted by : venusind2k
The rumours on ICICI bank such as the one claiming that the bank has been borrowing at 35 % to pay staff salary and that bank accounts worth Rs 10000/ Cr etc are being posted merrily on this site. where is the Moderator and why is he failing in his duty. Unconfirmed or statements made on this bank are affecting me as a shareholder of the bank and as its HNI client. Also there are a host of MF investing in ICICI. By not doing his duty at this stage, CNBC Moderator has colluded with Bear cartel worth being dargged to court!
it may gain
Posted by : vkk43Tracked by: 0 Boarder
I need to explain to you. When we are talking about Savings bank linked FD account, then they are giving us only savings bank account interest @ 3.5% on amount withdrawn from FD. Here how can they charge penalty of 1@. My son, NRI, has many FDs with ICICI Bank and at the same time has many SIP also with MF. So his FDs are credited to his NRO savings account when SIP advice comes to the bank but on such FDs he gets interest only @3.5% and not of FDs rate. Hope I am clear. Otherwise, I will wait for yr msg to clarify this....
In reply to:
it may gain
Posted by : libran.
I am not sure about ICICI bank charging about 1% for premature withdrawal but SBI does, once can open a Saving bank account linked to FD where FD are maintained in multiples of 1000/5000/10000 and can withdraw any emergency requirement in multiples specified at time of setting up account, I know this that ICICI allows a partial withdrawal without any charges, cant say about full premature withdrawal I guess most of private banks like HDFC, Kotak, Axis etc do not charge anything so I assume ICICI doesnt charge either... happy investing
it may gain
Posted by : libran.Tracked by: 0 Boarder
One must understand when one talks about charges it is not a charge that banks will shave one percent off your capital or principal amount, it is just that they give you one percent less rate of interest to prevailing interest rate for which your money has been parked in a Fd...
In reply to:
it may gain
Posted by : man
Are you sure they will charge 1%interest on our capital kept with them as Fixed Deposit ?
They will give less interest but can not charge us for keeping our money in their ad withdrawing due to requirements on personnel ground.
Pl discuss in detail.
it may gain
Posted by : libran.Tracked by: 0 Boarder
I am not sure about ICICI bank charging about 1% for premature withdrawal but SBI does, once can open a Saving bank account linked to FD where FD are maintained in multiples of 1000/5000/10000 and can withdraw any emergency requirement in multiples specified at time of setting up account, I know this that ICICI allows a partial withdrawal without any charges, cant say about full premature withdrawal I guess most of private banks like HDFC, Kotak, Axis etc do not charge anything so I assume ICICI doesnt charge either... happy investing...
In reply to:
it may gain
Posted by : man
Are you sure they will charge 1%interest on our capital kept with them as Fixed Deposit ?
They will give less interest but can not charge us for keeping our money in their ad withdrawing due to requirements on personnel ground.
Pl discuss in detail.
it may gain
Posted by : vkk43Tracked by: 0 Boarder
Is anything more to be discussed? I am waiting for yr reply....
In reply to:
it may gain
Posted by : man
Are you sure they will charge 1%interest on our capital kept with them as Fixed Deposit ?
They will give less interest but can not charge us for keeping our money in their ad withdrawing due to requirements on personnel ground.
Pl discuss in detail.
it may gain
Posted by : vkk43Tracked by: 0 Boarder
It seems there is some misunderstanding. What u write and what I write is probaly the same thing. Let me give u an exmaple -
Suppose I had made a fixed deposit last year in October, 2007 for 50000/- at 9% for 3 years. Now I want to withdraw money in advance and close this FD account. So for one year their interest rate was, say 8% and penalty for premature withdrawal is 1%, then they will pay me interest for one year at 7% (deducting 1% penalty, and giving me interest at 8% interest that is payable on 1 yr deposit in 2007). So while I could hv got interest @ 9% if I wud hv continued my FD, now I will get interest @7%. Hope I am clear....
In reply to:
it may gain
Posted by : man
Are you sure they will charge 1%interest on our capital kept with them as Fixed Deposit ?
They will give less interest but can not charge us for keeping our money in their ad withdrawing due to requirements on personnel ground.
Pl discuss in detail.
it may gain
Posted by : manTracked by: 0 Boarder
Are you sure they will charge 1%interest on our capital kept with them as Fixed Deposit ?
They will give less interest but can not charge us for keeping our money in their ad withdrawing due to requirements on personnel ground.
Pl discuss in detail....
In reply to:
it may gain
Posted by : vkk43
Do u know what are the charges for withdrawing money from FD before its maturity. I think it should not be more than 1%.
Icici bank trading range could be 275-425....
Posted by : marketmanTracked by: 0 Boarder
The stock of icici bank may settle in the trading range of 275-425 for the near term.... s&p and rbi already said there are no liquidity problems in the bank.... now moody`s says no problem in icici bank so far.... so,icici bank will not be closed atleast during this fiscal.... customers need not worry....
However,the investors may be still in nervous mood and thus utilise the bounces to exit....
Traders/speculators may try to create swings in the mentioned range in coming sessions.... panic sellings may not be visible in the counter in coming days,but that can not be concluded it is a better investment inpresent circumstances....
Do not forget that both RBI and Sebi closely watching the bank moments closely for catching any fradulent operations.... so,with the extra pressure from regulators,the bank cant behave like before to get maximum benefits from market....
pl note that the book value of the scrip is 417 at the moment.......
Nationalise FII Holdings in ICICI...
Posted by : libran.Tracked by: 1 Boarder
ICICI Bank may have a weekly closing above 440 next week, this is my feeling... happy investing...
In reply to:
Nationalise FII Holdings in ICICI...
Posted by :
krishb
I really don`t understand why we are blaming FIIs and behaving like cry-babies. If FIIs bought ICICI Bank shares at Rs. 850, and are now selling them at Rs. 350, what`s the problem for us? Let us Indians all buy the shares now, and we`ll rip-off the FIIs for a cool Rs. 500 per share... Why do we need the "Government" to do this if the Bank is basically operating well? I for one am buying this stock at this throw-away price, and I would invite others to join me in this party... Let`s buy now, and we can sell it back to the FIIs when they come back in a few months looking to invest their central-banks funded "liquidity" in a safe haven and strong stock like India and ICICI Bank...
(Besides, if you feel unsafe depositing money into banks these days, nothing better than to buy the banks at current cheap rates :-) ).
Nationalise FII Holdings in ICICI...
Posted by : krishbTracked by: 1 Boarder
I really don`t understand why we are blaming FIIs and behaving like cry-babies. If FIIs bought ICICI Bank shares at Rs. 850, and are now selling them at Rs. 350, what`s the problem for us? Let us Indians all buy the shares now, and we`ll rip-off the FIIs for a cool Rs. 500 per share... Why do we need the "Government" to do this if the Bank is basically operating well? I for one am buying this stock at this throw-away price, and I would invite others to join me in this party... Let`s buy now, and we can sell it back to the FIIs when they come back in a few months looking to invest their central-banks funded "liquidity" in a safe haven and strong stock like India and ICICI Bank...
(Besides, if you feel unsafe depositing money into banks these days, nothing better than to buy the banks at current cheap rates :-) ).
...
In reply to:
Nationalise FII Holdings in ICICI...
Posted by :
kadiyali
ICICI Bank stock has lost the value by 46% in just 6 weeks, and has closed at Rs 364 on 10th Oct. The root cause for this dropping prices is the high level of FII holdings in the company, which at one stage was in excess of 70%. As at 30.6.08, there were 582 FII shareholders in ICICI Bank with an aggregate holding of 432,431,591 shares worth 54.62% of capital excluding the foreign Dep Receipts. This figure was 38.85% of the total equity capital of ICICI including that part of FDR`s. If you add another block of 321,433,334 shares issued under Depository Receipts, the total FII holdings in the company comes to 38.85+28.88=67.73%. This part of the shares is going to reduce in future by gradual sale of FII holdings.
With the above, I will not be surprised if ICICI Bank prices see further bottoms in the days to come. The rumours regarding ICICI may only affect them some temporary business loss, but this phenomenon of very high FII holdings will hurt the investors very badly, and if you take into account more than 250 mutual funds who own more than 6% of the bank`s capital,and Insurance Companies owning more than 11%, even play-safe MF investors and insurance policyholders also will hurt badly by lower NAV. Again, if ICICI Bank share prices had not dropped by such a speed, the Sensex too would not have come close to 4-figure mark.
ICICI Bank should not have gone for FII route of such a high magnitude, but fact remains that they got a valuation of even Rs 890 per share only due to FII support.
Now in the interest of Indian Stock Market, Indian financial systems, banks, insurance companies, shareholders of not only ICICI Bank but also all other stocks, insurance policy-holders, Mutual Fund Investors, I request GOI to take immediate step of NATIONALISING THE FII HOLDINGS IN ICICI BANK at the ruling market price, thereby taking ownership of more than 50% in ICICI Bank siimilar to Govt`s holding in other nationalised banks.
P.S.: To whomsoever it may concern, my holding of ICICI Bank share from 1.1.2008 till today is just one share.
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