Banking worries spread far and wide.

Now we have India’s second largest bank Icici Bank (my sister lives in India and that’s her bank!!) feeling the need to reassure the markets. Stating that it had been the target of baseless market rumours the bank announced Tuesday that it has a “very strong” capital position and that it has a capital adequacy of 13.4% as of June 30. against a regulatory requirement of 9%. The bank also said its’ assets of more than $105 bln were “well diversified.” The banks stock had fallen a hefty 12.1% Monday but was recovering some ground today.