With just five days to go for the merger of ICICI into ICICI Bank, the books of the combined entity have Rs 22,000 crore worth of government paper as holding against statutory liquidity ratio (SLR) commitments.
The new ICICI Bank needs Rs 23,000 crore worth of investment in government paper to meet the stipulated 25 per cent SLR of its net time and demand liabilities. The merger is slated to take effect on March 30, provided the Bombay High Court clears it on March 28.