The second biggest bank of India, ICICI said that the bank maintains sufficient liquidity to deal with global meltdown. It is to be noted that the bank has a considerable exposure in the US and Europe markets.

Meanwhile, the shares of ICICI bank witnessed the largest ever fall of 28 percent in the morning session of Bombay stock exchange. The shares of ICICI fell 19.71 per cent on Friday to close at Rs 364.10.

The managing director & CFO of ICICI Bank, Chanda Kochhar said the bank never used rupee funds for its international growth initiatives. The financial health of bank is sound and the customers need not to worry about. The bank has sufficient liquidity with additional liquidity of Rs 12,000 crore in its overseas subsidiaries.

She also welcomed the cut in CRR by the reserve bank. ICICI bank is expected to get around Rs 4,000 crore from the recent cut in CRR. She held responsible to wrong perceptions and rumors for decreasing the market value of bank.