Check your Bank's financial health
Seems its time to take out my money from IDFC First bank after seeing these statistics
same boat !! wc is safest ?
ICICI’s rating was downgraded by intl. agency (don’t remember name) last year.
Now @guest_999 is targeting Analyst Badge for 2020.
Nah! Analyst badge is very far away for someone like me who mostly posts in Dost Dimes section & I am also not very good at maximising deal profits either. Can’t be an entertainer either as not even close to @P_A_N_K_A_J or @BubbleBoyChickenLittle witty posts. Happy with critic
I checked my bank balance after reading title. Lagaa ki shaayad YogiJi ne paise bhej diye mujhe bhi MNREGA waale
SBI mein account hai, agar ye dhuba to desh dhub jayega. 😉
Timely posted article, With a possibility of deep recession ahead, we need to carefully select our Bank
no need to worry with large scale Banks only mid and small Private banks or small payment Banks are not safe as per prevalent belief.
Reviews on idfc, since many people had huge amount deposited there dur tp high rate of interest
what about small finance banks
There will always be issues with banks so we should monitor or keep on check our bank regularly.
how is idfc and rbl bank?
Check the imgur pic link in 1st post, IDFC bank figures in 4 out of 8 worst parameters list while RBL bank appears in 2 out of 8 worst parameters list.
any other bank which give 7% intrest like idfc,how is digibank or fincare bank?
DBS Digibank gives 4% on first 1 lakh,7% on next 1 lakh & next 3 lakh gets 5% interest so max benefit is for keeping 2 lakhs. No idea about fincare bank & wouldn’t suggest it either as main point in current times is to look for stability of a bank.
DCB Shubh Labh Ac.
can you please check why I can’t attach original size image.
Edit “medium” in img url to “original”
It worked(I tried initially with big & large,never even thought about trying original)
@androgame
v vaidyanathan is ceo of idfc first bank,i don’t think this bank will fail,he is the one who launched the Retail Banking Business for ICICI,He grew the retail business to over 1400 bank branches in 800 cities,later Kishore Biyani snatched him from ICICI bank by offering a 50crs salary
https://en.m.wikipedia.org/wiki/V._Vaidya...an
he is the one who gave crores to his maids, drivers and former colleagues
https://m.economictimes.com/industry/banking/fi...
I know but he is no Deepak Parekh or K V kamath or Uday Kotak(just objectively comparing,nothing personal) even if he is a good banker. It is a fact that IDFC bank’s current situation is not good but that does not mean it will be sinking like Yes Bank. However risk is there & in normal times this risk might even be neglected safely but the current times are such that one can’t neglect such risk. I am not saying to abandon IDFC bank completely but at least don’t use it as your primary acc with majority of your savings. Most people who use IDFC bank here do it only for their 7% interest which isn’t enough to justify the risk considering options like kotak bank & dbs(both much better banks than IDFC).
check his meeting with taxi driver
@guest_999 is this the latest report? Can’t see Yes bank in this which is the among the highest NPA.
Moreover, IndusInd stock is trending at 52 week low.
52-wk high 1,823.75
52-wk low 235.55
Yes,this is latest data as per filed reports. Yes Bank situation can not be considered as normal situation as it is now a bank on ventilator support so that’s why it was not included because no logical individual should now keep any money in Yes Bank.
Share value/market cap has nothing to do with a bank’s stability,RBI even issued a notice regarding this because of these rumors that tried to relate a bank’s stability with its share price. Only see the 8 fundamental parameters as mentioned in imgur pic/this thread topic to make guesses about a bank’s stability.
https://economictimes.indiatimes.com/industry/b...
“Concern has been raised in certain sections of the media about the safety of deposits of certain banks. This concern is based on analysis which is flawed. Solvency of banks is internationally based on capital to risk weighted assets (CRAR) and not on market cap. RBI closely monitors all the banks and hereby assures all depositors that there is no such concern of safety of their deposits in any bank,” RBI said in a two part tweet.
RBI’s tweets were in response to an erroneous comparison by a news channel between the ratio of deposits and market capitalisation of private sector banks, which subsequently went viral through whatsapp forwards. On Monday and Wednesday, these lenders also came out with statements debunking these theories. In a statement on Wednesday, RBL Bank emphasised that it is fundamentally a strong institution.
Now it seems it is even more riskier for a weak bank to offer above average savings interest rate in such times.
Yes with the repo rate reduction of 75 bps by RBI , it seems very unlikely.
We can see the effect, Kotak now gives 5% interest for > 1 Lakh.
Earlier it was 6%. I expect IDFC bank also to follow suit
@Dastro @beastboy @indiansoul you still holding large amount in IDFC savings acc?
Yes.. more than a Lakh
@BubbleBoyChickenLittle @bikidas2060 @Awake any opinion on IDFC bank shares now along with savings acc.
I don’t like its MD and ceo coming every other week on tv. And plus so much drama on his esops. So, NO.
So currently there is no such bank which gives 6-7% interest & can be considered stable…I have major amount of savings in IDFC & not sure what to do…Though the amount I have there are insured by DICGC but still it’s too much mental pressure to think what will happen if the bank drown…I had major amounts in Yes Bank…After the fiasco happened with them, I shifted everything to IDFC & now hearing that IDFC is not safe either…I would put money in Kotak but after they have reduced the interest rates further, it’s not a viable choice to put money there because the effecting interest rate in Kotak is now only 4.5% (4%+5%/2=4.5%)…
DBS’s effective interest rate is 5.3% now (4+7+5=16/3=5.3%) so much better than Kotak now…
I have major savings in IDFC & the rest of the savings are in DBS Digibank…In HDFC & ICICI, I’m only maintaining the required AMB because of only 3.5% interests…
Not sure if I should transfer the majority of my savings from IDFC to DBS or not…
fincare bank & utkarsh small finance bank also giving 7%
Did Government assurance of 5lakh came into effect or is this only in papers till now.
@rogerthat
it was always on paper
never really been used in real life AFAIK
Do small finance banks come under 5L assurance?
Utkarsh bank in my area giving 9% interest, should i open account??
@rogerthat
yes they too comes under 5L assurance
I have made a fd on paytm today.
Paytm fd is in collaboration with indusland bank, and this bank is near to collapse, what should I do now, should I break or my money is safe and I need not worry, who is answerable , Paytm or Indusland bank if it collapses
indusland.
https://timesofindia.indiatimes.com/business/in...
Ratnakar Bank (RBL) said that it lost nearly 8% of its deposit base following a decision by some state government undertakings decision to withdraw. This is the second lender to attribute withdrawals to a state government. Earlier this week, IndusInd Bank had said that its deposit base fell 11% following a state government decision to withdraw funds.
And now they are luring by giving 7% FD rates.
@Drupal check UCO Bank’s financial health.
https://timesofindia.indiatimes.com/business/in...
HDFC Bank has ended FY20 with a 24% increase in deposits and a 21% jump in advances, in sharp contrast to its smaller private lenders which lost some bulk deposits in March 2020.
Following the crisis at Yes Bank, which saw a flight of deposits from the private lender, the Maharashtra government took a decision to close all accounts with private banks. This resulted in lenders like IndusInd Bank and RBL losing some bulk deposits.
HDFC Bank, however, appears to have gained from the flight to safety. In a recent teleconference, HDFC Bank CEO Aditya Puri had said that the bank has $5 billion of surplus liquidity, which translated into over Rs 35,000 crore of surplus cash.
Even i have tried attaching pics with original resolution and size bro but that doesn’t always work. Even the additional html tags don’t work, so only way is to provide image link (like you already did)
Maybe it has been done to reduce load of images