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You are hereFeed aggregator <http://forums.investorline.co.in/aggregator> / Categories <http://forums.investorline.co.in/aggregator/categories> / Categories <http://forums.investorline.co.in/aggregator/categories> / Inflation Business News- Times Now<http://forums.investorline.co.in/aggregator/sources/106>- *1 hour 19 min* ago p align=justifyRuling out the possibility of a corporate raid on ICICI Bank through hammering down of its share price, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said it is not possible for justnbsp; anyone to take over the management due to strong regulations in India. brbrThere are limits (shares) on what can be bought by an individual. Ability to change management is also dependent on lots of regulatory approvals, so I don't think people should have any fear that all of a sudden ICICI Bank may change management because of stock manipulation, he said in an interview. brbrOn whether nationalised banks are more capable of handling market pressures due to backing of the government, he said, It is true that in public sector banks nobody can change the management because we are not going to reduce the government ownership below 51 per cent. So the trading innbsp; stocks only remains up to 49 per cent.nbsp; brbrHe added, In a private sector bank there is no freeze on majority ownership so stocks would be traded more freely. Whether that leads to instability or not depends on market conditions. I don't see that very crucial for the actual stability of the banking system.nbsp; brbrBoth private and public sector banks are subjected to same regulation and supervision, he said, adding, when I am saying that the banking system is strong as judged by the Finance Ministry and the RBI, that applies to both. As far as the stability of the banks are concerned, the private sector banks that we are supervising are as sound.nbsp; brbrICICI Bank management had earlier alleged that vested interests were indulging in malicious rumours to pull down the bank but ruled out that any banking rival was behind it.nbsp; brbrPointing out that the fundamental thing is the stability of the banking system and of ICICI Bank, Ahluwalia said, if there is any temporary shortage of liquidity, RBI can make available liquidity since they are quite convinced that the bank (ICICI) is perfectly sound.nbsp; brbrAs regards the specific complaints of hammering down of stocks by the ICICI management, he said, the stock price manipulation is illegal and if somebody has been manipulating the stock it would be the job of SEBI to look into the matter.nbsp; brbrIf the ICICI has raised this matter I am sure that the regulators will take a look, he said. brnbsp;nbsp;nbsp;nbsp; brStating the ICICI Bank chief K V Kamath did the right thing in complaining, he added, merely by buying the shares of a bank you don't actually succeed in controlling it. brbrStock markets tend to be volatile. Though we don't know what causes people to become bearish. If they are overbearish the market corrects itself, he said referring to volatility witnessed by ICICI stocks during the last few trading sessions.nbsp;nbsp; brbr(Agencies)/p -- Visit site at – http://investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Forums- http://forums.investorline.co.in/ Iwebs Open Source Web Publishing Platform - http://webs.investorline.co.in/iwebs/ Join SMS Updates - http://labs.google.co.in/smschannels/subscribe/Investorline-News --~--~---------~--~----~------------~-------~--~----~ Get latest market updates & search internet right from your browser-download our toolbar here- http://investorline.ourtoolbar.com/ Visit our site at – http://investorline.co.in/ Newsroom: http://newsroom.investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Journal - http://research.investorline.co.in/ Newscatcher- http://catcher.investorline.co.in/ Interested in Financial Planning-Let us Contact you- http://spreadsheets.google.com/viewform?key=pb_z4f1_zGMg4iBBFT3-SWQ&email=true If you like the site then promote it here- https://www.freetellafriend.com/tell/?url=http://investorline.co.in/blogs/news Create your own free blog on- http://investorline.co.in/blogger Visit this group at http://groups.google.com/group/india-investor -~----------~----~----~----~------~----~------~--~---
