The Reserve Bank of India has prepared a list of the three safest banks in India.
Silicon Valley Bank, Signature Bank, and First Republic Bank drowned in America while 186 banks are on the verge of collapse.
Due to the global banking crisis, people in India have also started worrying about deposits in banks.
Amidst the ongoing banking crisis in America and Europe, this news is a relief for the banking sector of India.
Let us know about three safe banks where your money will not sink. There is 1 government and 2 private banks on the list.
1- SBI: State Bank of India (SBI) ranks first in the Reserve Bank's list of safest banks.
2- HDFC: HDFC Bank is a leading bank in India and is in second on the list of RBI's safest banks.
3- ICICI Bank: It is the largest private sector bank in India regarding market capitalization and ranks third in the list of safest banks.
The Reserve Bank has considered SBI, HDFC, and ICICI Bank as D-SIBs. That's why these banks are called D-SIBs.
D-SIB i.e. Domestic Systemically Important Banks are those banks that are so important for the economy of a country.
Due to the sinking of D-SIB, the country's economy can get disturbed and the economic situation can collapse.