Although the firms condemn the rumour-mongering, stories that Morgan Stanley was looking for a partner continued to swirl.

ECONOMIST: Investment banking: Is there a future? | The

The second wave of rumour-mongering possibly happened through Facebook and Twitter (India has 50m of the 955m Facebook users in the world).

BBC: Social media and the India exodus

An MP belonging to a prominent regional party sought a "shutdown" on the social media sites for "a couple of days" to stop rumour-mongering.

BBC: Social media and the India exodus