Icici Buys Gilts Worth Rs 20,000 Crore
In the run-up to its reverse merger with ICICI Bank, ICICI has bought close to Rs 20,000 crore of government securities.
The merged entity will need government paper worth around Rs 23,000 crore to meet its statutory liquidity ratio (SLR).
The merger is slated to take effect on March 31. ICICI executive director Kalpana Morparia said: