US financial meltdown: Panic withdrawal at ICICI ATMs

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{image-ICICI ATMs_30092008.jpg}Hyderabad Sep 30: Rumours of impact of the meltdown on ICICI Bank triggered panic withrawals across the city on Monday, Sep 29 Serpentine queues were reported outside ICICI Bank automated teller machines (ATMs), as hundreds of anxious customers waited patiently to get their money out of the machines.

Customers moved from one ATM to another in their bid to withdraw money. Sharad Kumar, a marketing executive in a private firm, who rushed to an ATM, said, "I watched news on TV and panicked. I withdrew whatever money was there in my account." Arif, a software engineer with Satyam, however, claimed it was his routine ATM visit. "A couple rushed to Karkhana as the ATM there ran out of cash," he added.

With bank holiday on September 30 for the quarterly closing, followed by a few public holidays and news of ICICI Bank operations in Europe likely to be hit because of the economic meltdown, customers panicked with rumours of a probable collapse of the leading private bank.

OneIndia News

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