Idfc bank query

Idfc bank query

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Deal Cadet
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Is it safe to keep money in idfc bank after seeing the situation of yes bank.
As many dimers are having a good amount in this bank for high rate of interest, so I thought this threat will be useful for all.
Dimers from a banking background, please throw a light on this topic.

21 Comments  |  
13 Dimers
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Deal Cadet
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I think other than HDFC/ICICI no other private bank is safe.

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Deal Cadet
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what about small finance banks like jana bank

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Deal Subedar
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10-50k rakho, if situation arises like this you can withdraw all.

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Deal Cadet
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628
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Nothing comes with safety

No pvt banks are safe

No psu banks are safe

No cash is safe

Even though nor your life is safe.

We plan things for 20 years in future but we don’t know what misadventure could happen next day? Eg.. Like i could have been killed by mob lynching in Delhi Riots in our area.

Everything comes with risk forget thinking something is safe.

Live in the moment and enjoy present and give time to your loved ones.

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Deal Cadet
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OP first of all any bank under RBI only ensure to insure 1 Lakh INR (Latest budget increased this amount to 5 Lakhs). Refer to https://www.rbi.org.in/commonperson/English/Scr...

Rest which banks are safe is a hard question to answer. I will layout an overview on how to judge a bank:
1. Share price comparison is a point that helps you decide the trend – https://www.moneycontrol.com/stocks/marketstats...
2. Check the vision of board members.
3. Check for services and availability in your area.
4. Where all your money is invested by bank.

Example: If Idea Vodafone goes down, IDFC will have the highest hit.

What is suggested:
Split your money in different banks.

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Deal Cadet
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abhishekkjain wrote:

OP first of all any bank under RBI only ensure to insure 1lakh INR. Refer to https://www.rbi.org.in/commonperson/English/Scr...

Rest which banks are safe is a hard question to answer. I will layout an overview on how to judge a bank:
1. Share price comparison is a point that helps you decide the trend – https://www.moneycontrol.com/stocks/marketstats...
2. Check the vision of board members.
3. Check for services and availability in your area.
4. Where all your money is invested by bank.

Example: If Idea Vodafone goes down, IDFC will have the highest hit.

What is suggested:
Split your money in different banks.

Please Edit : Now 5 Lakh is insured by DICGC.

Missing
Shopping Friend
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what about IDBI bank…. any reviews on this rolleyes

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Deal Cadet
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Shahskm wrote:

Please Edit : Now 5 Lakh is insured by DICGC.

Done. Thanks, I am not sure if that’s already enforced.

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Deal Cadet
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pentiumd wrote:

what about small finance banks like jana bank

Pls tell about jana small finance bank after checking bse/nse other things i have put fds of more than6 lakhs

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Deal Cadet
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baaz4u2007 wrote:

Pls tell about jana small finance bank after checking bse/nse other things i have put fds of more than6 lakhs

better to move to equitas suryoday fincare bank

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Deal Cadet
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pentiumd wrote:

better to move to equitas suryoday fincare bank

Why fincare???? Any negatives for jana finance bank

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Deal Cadet
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One more query !! I want to open saving bank account with Icici. Already have icici amazon pay cc . Which saving account type is best to open.

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Critic
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Keep money in DBS bank & kotak bank for their comparatively higher interest rate of 5.5%(2lakh,4% on first 1 lakh & 7% on next 1 lakh) & 5%(4% on first 1 lakh & 6% on amount above 1 lakh). Before you ask what is DBS bank,just read this https://en.wikipedia.org/wiki/DB...nk

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Critic
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baaz4u2007 wrote:

Pls tell about jana small finance bank after checking bse/nse other things i have put fds of more than6 lakhs

my school friend is in senior position there and advised me against any exposure at this stage.

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Blogger
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ZNZ wrote:

I think other than HDFC/ICICI no other private bank is safe.

agreed

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Deal Cadet
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panchabhut wrote:

my school friend is in senior position there and advised me against any exposure at this stage.

Against any exposure means!!!! Should i remove amount invested more than 5 lakhs !! Or continue with same

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Critic
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baaz4u2007 wrote:

Against any exposure means!!!! Should i remove amount invested more than 5 lakhs !! Or continue with same

any exposure means any money. even the 5 lakh cover will take months to come.

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Deal Cadet
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Idfc first bank is also good like Hdfc,icici,axis. Every bank have same control and conditions of RBI. but management is good and very transparent in all their activities. NPA is also small like Hdfc, icici. Retail focused. 7% interest rate on saving account is also best in market. Others can’t provide 7% as they already funded and block their money in corporates. This is new emerging bank , branches network double in this year itself.

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