Business Standard

Keep your money safe: Stick to systemically important banks for safety

Be wary of co-operative banks which have historically been most vulnerable

Bank, money, Banks
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Sanjay Kumar Singh
Recent collapses of banks like Silicon Valley Bank and Signature Bank in the United States, as well as European bank Credit Suisse's takeover, have left customers worldwide feeling uneasy. In India, past incidents involving banks such as Punjab & Maharashtra Cooperative (PMC), Yes Bank, Lakshmi Vilas Bank, Global Trust Bank, and others have also added to concerns.

Choosing your bank with care has hence never seemed more important. If your deposits are with a bank that gets into trouble, the Reserve Bank of India (RBI) may eventually find a stronger bank to take over the troubled entity. But you could

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First Published: Mar 20 2023 | 8:32 PM IST

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