Check your Bank's financial health
Good site to check all your bank’s financial parameters as shown in above video.
https://ticker.finolo...n/
was thinking too much about withdrawing my deposits from idfc first bank, but stumbled upon videos of their CEO and that guy gave me confidence and today my Rm sent me the quarterly results and so many things has improved as mentioned by their ceo and now their casa is 33% and still going up
https://www.desidime.com/forums/dost-and-dimes/...
I already told you na.
Pls sumone comment about jana small finance bank health!!! I hav around 8 lakh fd till july 2020.. should i kepp or break
You can keep bro, promoters cannot runaway because of Lockdown. Feel safe till India is Under Lockdown
https://timesofindia.indiatimes.com/business/in...
On Saturday, the RBI had announced that it has cancelled the licence of CKP Co-op Bank with effect from April 30 and has asked the registrar of cooperative societies to initiate winding up proceedings and appoint a liquidator for the bank.
This is the first time the central bank is triggering the higher deposit insurance limit, which came into effect after the Union Budget in February 2020.
@guest_999 bhai, please come back.
I am back bhai, got some real life issues to sort out so was away. An update for the thread:
https://economictimes.indiatimes.com/industry/b...
Another co-operative bank goes down. Don’t understand why people were even keeping money in such banks after PMC fiasco.
How is the condition of idfc bank now as they didn’t decrease interest rates? is my money safe if I keep it below 5 lakh? @guest_999 @rogerthat
Till now no new updates but that’s because banks/companies will announce their quarter/annual financial report only in July. At that time we will know how the corona virus situation impacted the banks.
P.S. for those who may miss, the point of above post is that it is generally not good if a company’s shares are held mostly by promoters & public while fii/dii holding very less shares.
Yes, but the stats were same for last year also.
Idfc scores are alarming. After seeing Yes bank, risk nai lena.
You can take a small risk as all scheduled commercial banks are insured for upto 5 lakhs in a depositor’s/pan name so in worst case scenario your money may get stuck for 3-4 weeks(no comparison with PMC as that was a co-op bank & Yes Bank which was much bigger than IDFC it resulted in ~2-3 weeks of money getting stuck). If you can live with that then you can deposit 1lakh & 1 rupee in IDFC to get 7% interest on entire amount.
Is IDFC really an unsafe bet? According to the bank’s progress in form of improved CASA ratio and increase in branches all over India, I feel they’re investing on growth and are looking for long term sustainability.
I remember Yes Bank also winning some awards in various categories last year(mentioning this as IDFC is advertising its recent FAAA rating by crisil to its fd program which is the highest safety rating in its category). Check share holding pattern of IDFC Bank which currently does not look good.
https://trendlyne.com/equity/share-holding/1786...
For reference FII/DII always know issues in a company much ahead of common people which is what happened in case of Yes Bank where people kept buying share while FII/DII kept reducing their shareholding.
Yes IDFC is an unsafe bet but then so many other banks currently are too. It all depends on how much risk & time you can afford.e.g.if IDFC bank sinks tomorrow you can be almost sure that up to 4-5 lakhs deposit will not be an issue other than waiting for 2-3 weeks to withdraw it all going by Yes Bank experience.
I can say one thing confidently.
Modiji won’t let anything wrong happen in markets till diwali.
I’ll clear all my bank accounts in nov first week.
Because after nov, all predictions/assumptions will fail.
।। Auuooom Tat’sat ।।
https://timesofindia.indiatimes.com/business/in...
Long time coming, Laxmi Vilas Bank should have been avoided by anyone keeping up with the news after Yes Bank fiasco.
What about IDFC, should i move the money out ?
Dont think so bro. Share price is showing strength. Plus all news are positive as such. Nothing to worry about as of now I think.
Dimers can correct if I am missing something
So much love for IDFC, i am slowly moving money out of IDFC to NSC bonds, as interest is almost same but with peace of mind.
Still have substantial amount in IDFC, will monitor and see if change is required
NSC bonds? can you explain?
Edit: Oh it is National Saving Certificates right? That is ofcourse a safer investment..But not available online that is the pain..
Welcome to India 2.0
Few Years Later →
Banks in India
1. Jio Bank of India
2. Adani Finance Bank of India
and few small banks like
SBI and HDFC
rest bank will merge to either Jio or Adani Bank
A good video explaining everything in Hindi about important parameters of a bank’s financial healthh(credit to @bikidas2060 )