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How safe is your money with Indian banks?

Either the DICGC cover should be raised or we need an independent resolution body to protect depositors. The FRDI Bill can ensure that

How safe is your money with Indian banks?
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Tamal Bandyopadhyay
Till Infrastructure Leasing & Financial Services Ltd and Diwan Housing Finance Corp. Ltd stole the limelight in the second half of 2018 for all the wrong reasons, ballooning bad loans in the Indian banking system held centre stage. The mis-governance of a multi-state urban cooperative bank (UCB), which was run by a real estate developer, leading to its collapse, has changed the narrative. Since the Reserve Bank of India (RBI) clamped down on the bank and restricted withdrawal of deposits (capped at Rs 40,000 now), at least four depositors have died because of stress and the fear of losing their
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

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First Published: Oct 27 2019 | 9:07 PM IST

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