About bank
bala
(Querist) 20 May 2014
This query is : Resolved
I would like deposit of some lakes to pandiyan grama bank. But somebody peoples are saying don’t deposit rural bank, deposit on nationalized bank like this. Pandiyan grama bank undertaken central government and Indian overseas bank.
Questions:
1. If I deposit amount to pandiyan grama bank, is it safe equal to nationalized bank ?
2. If nationalized bank’s NPA increased, public fixed deposit what will happen?
3. Private bank also safe or not to fixed deposit?
Please answer the above questions.
Thanks & Regards,
Rajendra K Goyal
(Expert) 20 May 2014
1. yes, equally insured under DICGC.
2. Deposit is insured to some extent only not full. Generally NPA does not effect safety of deposit. RBI has laid down guidelines.
3. They are safe, deposit upto one lac is insured.
(Each depositor in a bank is insured upto a maximum of 1,00,000 (Rupees One Lakh) for both principal and interest amount held by him in the same right and same capacity as on the date of liquidation/cancellation of bank's licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force.)
