Bank insolvency
This query is : Resolved
02 September 2016
if government banks become insolvent how much money I will received if I have 5 lakhs in the account
As same for private banks?
Unnikrishnan B
(Querist)
02 September 2016
all commercial banks provide DICGC cover up to 100000/- per bank .but fear not banks would not become insolvent .as you have studied banks provide 25% as statutory reserve every year if the profit and the capital adequacy is sufficient
Unnikrishnan B
(Expert)
02 September 2016
Devesh,
All commercial banks provide DICGC cover uoto 100000/- per borrower .the deposits with all the branches of the bank is aggregated.civr include both principal and interest subject to One lakh.fear not banks would not become insolvent .as you have studied banks provide 25%of the net profit as statutory reserve.and the capital adequacy is sufficient.
Hope I have answered the query
All commercial banks provide DICGC cover uoto 100000/- per borrower .the deposits with all the branches of the bank is aggregated.civr include both principal and interest subject to One lakh.fear not banks would not become insolvent .as you have studied banks provide 25%of the net profit as statutory reserve.and the capital adequacy is sufficient.
Hope I have answered the query
Unnikrishnan B
(Expert)
03 September 2016
You are most welcome
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