ICICI Bank witnessed total withdrawals of Rs 550 crore (Rs 5.5 billion) over the weekend between April 11 and April 13. These withdrawals include around Rs 350 crore (Rs 3.5 billion) through regular banking transactions.

A press release from the bank said: "The bank has met all the withdrawal demands over the last three days from its own cash resources."

Meanwhile, Crisil reaffirmed the outstanding ratings of ICICI Bank's bonds and debentures at AAA.

The reaffirmation comes in wake a large-scale withdrawal of deposits from the bank in certain parts of the country following a rumour over its solvency.

ICICI Bank managed the withdrawals by utilising a part of its current account balances with the central bank and excess holdings in government securities.

The run on the bank was triggered by rumours that the bank had burnt its fingers in the market meltdown last week. An ICICI Bank release on Monday said its total exposure to equity shares in its proprietory trading portfolio is currently at only Rs 18 crore (Rs 180 million), while funded exposure to brokers secured by shares was at about Rs 4 crore (Rs 40 million) as on March 31.

The non-fund based exposures to brokers, net of cash margins/bank guarantees provided by borrowers, was at Rs 56 crore (Rs 560 million), the bank said in a statement.

The bank's deposit base has increased from Rs 32,085 crore (Rs 320.85 billion) in March 2002 to Rs 41,316 crore (Rs 413.16 billion) in March 2003. Its net worth is Rs 7,113 crore (Rs 71.13 billion) and capital adequacy ratio at 12.67 per cent.