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Our Bureau

Chennai , Nov. 26

ICICI Bank is working on a software tool that will collate information about corporates so that "when I meet you, I already know enough about you," Dr Nachiket Mor, Executive Director of the bank, has said. Speaking at the valedictory session of the India Finance Forum organised by the Confederation of Indian Industry on Friday, Dr Mor said the bank had a software that scanned some 500 newspapers for news about ICICI Bank.

The India Finance Forum is an annual meeting of finance professionals.

The bank is working on a project that would use the software to collect information about corporates also. "It should be ready in a week's time," Dr Mor said.

Speaking on the theme `Financial trends and management issues pertaining to emerging markets,' Dr Mor said that he did not see any hardening of interest rates. "I do not see liquidity drying up," he said, pointing out that international funds were competing with domestic funds.

Observing that corporate India had announced plans to spend as much as Rs 240,000 crore on capacity creation, Dr Mor said such plans were an indication of business confidence. Only three years ago nobody had any plans for expansion, he said.

Dr Mor said that the financial sector was "eager to put risk capital" into companies that had a good growth story.

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