Absolutely...most saving should be in SBI/HDFC/ICICI.
RBI has classified this as Too big to fail banks ...
If not this than it has to be nationalized banks ...no further option.
Closed FD with LVB last month........ but was surprised to see many senior citizens making fresh fd's with the bank...... The bank staff kept telling me that everything is fine and nothing to worry.....
I am guessing these are the types of banks that give 9-10% interest on FDs? Because this explains why mostly senior/retired folks lose their money here.
Indian newspapers are the worst. My Google Discover feed would always have one of the articles from LiveMint type websites where they would be highlighting these smaller banks which give up to 11% interest on FDs to senior citizens.
as for bank employees... few days ago, went to yes bank enquiring about capital gain tax saving bonds. the guy completely ignored my requirement and started pushing for a 35 year long plan that would get me a yearly pension at the end of 35 years. i was like dude do you really think your bank would exist or i would be alive 35 years from now?
I guess days of 9-11 are gone.. These banks are probably giving 7 or 8 when SBI/HDFC are dropping to 4 or 5 (I read an article only yesterday that HDFC is dropping to 3 or something for the short range, with savings account balance yielding 2.5, if I am right)
this govt will sell everything there are so illiterate and egoistic that they know how to fool uneducated. Worst govt and still people are voting them is a shame, i feel very insecure in this country right now, our hard earned money is also not safe , what a country, and do remember icici bank too was bankrupt once
This country has gone to uber shit from utter shit thanks to our beloved Government of India for being such a sellout - eventually everything will be privatized at the end of the day and then after 10-20 years private corporations will screw the public over and then again the government will step in saying 'We are here to save the country' and flippity flippity flop repeat.
And why does SBI have 30 percent share in Jio Payments Bank Limited alongside with Reliance Industries?
'A government who does not know how to save their own asses should not assure the public with their fake assurance'
Analysts and global credit rating agencies have applauded RBI's move and said that it will benefit both parties.The central bank on 17 November placed Lakshmi Vilas Bank under one-month moratorium, superseded its board
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