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Small, big and systemically important banks

The systemically important bank classification is no comment on how secure depositors' money is in other banks. Sit back, relax and enjoy the higher rates for now

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7 min read Last Updated : Jan 21 2024 | 11:36 PM IST

In the last few days of December, as 2024 approached, phone calls and text messages were aplenty. Predictably, most were to convey New Year wishes. But there were a few that had nothing to do with greetings. These were anxious calls and curious messages from people in my contact list, and outside it. They wanted to know whether their money was safe in their banks.

What was the provocation for this?

Well, it was the Reserve Bank of India’s (RBI’s) latest announcement on Domestic Systemically Important Banks. Three banks continue to feature on the list — the State

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

Topics : BS Opinion bank deposits Banking sector Central Depository Services Interest Rates

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