Is your money safe in Government banks?

Yes… Absolutely safe in any Indian government owned bank… Firstly because they are majority owned by the government (CBI is 93% owned by GOI) and the government keeps on infusing funds to keep their Capital Adequacy Ratio at 12%. If the government finds it difficult to infuse funds, they merge them into larger stronger PSU banks

Instead of sitting idle park the money in FDs will fetch you more than mere savings interest

Your money is safe upto 5 lakhs, courtesy of DICGC. 🙂
So, ask your father to distribute his money in different banks in different accounts. 🙂🙂🙂🙂

Government take guaranty(insurance) of upto 1lakh for government banks. Government will give you max 1 lakh if bank got closed or bankrupt.
It’s 99% in any cases government give funds to save bank and rare case government bank will be bankrupt 😇

• Our beloved Fakir aadmi can sell our bank anytime anywhere.

I would have preferred SBI or HDFC instead of CBI

Small advice, if bank account as big amount then do transactions only with cheque or self withdrawal slip as linking bank accounts with upi, Internet banking or debit card is bit risky now a days.

It is safe, since Govt is promoter. Govt is always last to default.

Ofcourse it is safe.. Wel upto a small amount anyway or until the government runs short of money..

OH WAIT……………………………..

diabetessolution4 wrote:
Nice post on h ttp:// sleepdiabetescure.con https://dictionary.cambridge.org/dictionary/eng...

📣housekeeeeping 📢 clean-up on aisle four 🙏🏼please!

please🙏🏽ଭାଇ 😔

i concede i was mini-trolling from my first reply here, but it was without taking too direct names or references.

but fixated discussions on public policy or the dillydallying / going back and forth on it (policies)… is a discussion.. like spilled honey or sugar is to an ant🐜 colony. and the discussion is often forced out to…
https://www.desidime.com/discussions/odisha-bhu...

@bikidas2060 5 lakh insurance only comes into effect when RBI declares a bank “bankrupt” & that has never happened till now. What most likely will happen is that bank will be merged with another bank(or propped up by other bank like sbi did for yes bank) & money will be stuck for a few weeks before full withdrawal is allowed for any amount.

Buying land would be the safest and best option. I know people who made got rich just investing in property for 20 years. 100x what was paid is not unknown especially around fast growing cities and even if its swamp land like in Chennai.. Even government is afraid to just take away land unlike bank accounts.. And the gains are far more than bank interest rates.. If you think you would need the money then buy smaller parcels of land so you can sell them easier.. But larger parcels will fetch far higher prices.. Thats because it is hard to get large pieces of land to build apartment blocks and fetch multiple of smaller parcels.. When they built the metro here, land went from under 10l to 70l because that is what the metro company gave and even far away land still went for 50l or so.. Thats 5x gains in a decade for smaller pieces… If the land can fit a large apartment block you can pretty much ask what you what..

Your money safe in Govt banks. You can park your money in postal department also for more safety.

…simply depositing is not safe….

…decline debit card and online banking offers…and if you want to be safer then keep maximum money in short term fd…

just noticed that fd/rd opening creates a new account .. so does that mean fd and savings accounts are individually covered for 5 lakhs each?