Indian Banking Sector: It is believed that Indian banks will not be affected by the current turmoil. Because in India the position of the banks is strong due to monitoring by the Reserve Bank and proper investment by the banks.
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The panic about the deteriorating condition of the three big banks of America had not yet subsided that Switzerland’s credit suisse bank But the news of looming danger started coming. The effect of these news is happening on the stock markets of the whole world. Stock markets all over the world are under pressure because stock markets depend a lot on sentiment.
It is believed that the current turmoil will not affect Indian banks. Because in India the position of the banks is strong due to monitoring by the Reserve Bank and proper investment by the banks. But the absence of any official message from the government for the common man creates a little panic because the condition of the banking index in the Indian stock market is not looking good.
need of government’s trust
One should not panic in such a panic environment. Ashwini Rana, banking expert and founder of Vice of Banking, says that the account holders of the country’s banks should not come under any kind of panic, fear or pressure, however, for this the government needs to assure the account holders.
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Increase the guarantee on the deposit of 5 lakhs
Banking expert Ashwani Rana says that in such an environment, the government needs to take some steps to win the trust of the people on how safe the money of the people is in the bank. The government should extend the facility of guarantee on deposits up to 5 lakhs from banks or start a deposit insurance scheme so that depositors can feel secure about their deposits by taking an insurance policy for their deposits.
Suggestions to the Finance Ministry as well
Whether it is about Yes Bank or ICICI Bank case in 2008. Every time there has been a threat to any bank, the government has come forward and worked to get the bank out of trouble. Voice of Banking had sent the suggestion of deposit insurance scheme to the Finance Minister at the time of budget so that there should not be such panic among the general public of the country regarding the banking sector. Banking experts believe that such deposit insurance is the need of the hour.
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