RBI – Everyone is worried about the money earned through their hard work. Even the money kept in the bank cannot be called completely safe because if a bank sinks, the customers’ money also sinks. But let us tell you that recently RBI told that your money is safest among these three banks of the country.
India’s banking sector is quite big. This includes many types of banks like government banks, private banks, small finance banks, co-operative banks, rural banks and payments banks. It is the responsibility of the Reserve Bank of India (RBI) to keep all these working properly and ensure that people’s money remains safe.
That is why whenever there is a situation of failure of any bank, RBI takes strict action in time. Like it was done in the case of increasing NPA of Yes Bank or other government banks. Now the Reserve Bank has released the list of 3 such banks of the country, which can never fail.
The Reserve Bank says that the country’s largest bank, State Bank of India (SBI), is an important bank (D-SIB) in the domestic system. Two private sector banks ICICI Bank and HDFC Bank are also included in this list. D-SIBs are those banks which are so big that they cannot fail i.e. they are known as Too Big To Fail Banks.
What is the specialty of such banks?
Under the concept of ‘too big to fail’ bank, it is expected that when such banks face any crisis, the government will support them and save them from sinking. Therefore, these banks get some extra facilities in the funding market and the trust of customers also increases on these banks.
HDFC Bank was not included earlier-
RBI said in a statement that SBI, ICICI Bank and HDFC Bank remain in this list based on the parameters of D-SIB list of 2021. RBI had declared SBI in 2015 and ICICI Bank as CODI-SIB in 2016.
