Readers of Rupeetimes.com would like to be informed that the article published under the headline "Existing Customers of ICICI will also face the rate hike" on October 30th, 2008 is not based on correct information due to some misleading market analysis.

The article mentions that home loan rates have been revised upwards for the existing customers of ICICI but this is factually incorrect. The home loan rates have been revised only for the new borrowers effective from October 10, 2008.

This revision has not impacted the old customers of ICICI bank in any way.