Bank Money is Safe: Big banks went bankrupt in America one after the other. The government is assuring the depositors who deposit money in those banks that their money is safe. Will be returned, but how safe is it? According to the rules, how much percent of the total amount deposited will be returned? Today we will tell you. Money kept in banks is more secure in India than in America. If you have a deposit of Rs 100 in India, you will get Rs 98 in case of bank collapse, but in America this amount is only Rs 66. That is, 98% of the money deposited in India is safe while only 66% of the amount kept in America is safe. Actually, insurance protection is available on the money deposited in Indian banks. That is why in case of bank collapse, the deposited amount is returned. This information has been revealed in a report by Raymond James & Associates.
How much security in Indian banks?
- Top-10 Banks – 98%
- Regional Rural Bank – 82.9%
- Local Area Bank – 76.4%
- Co-operative Bank – 66.5%
SBI’s report is telling how safe is the money kept in American bank?
- Top-10 Banks – 38.4-66%
- Small Banks – 30-45%
Bad condition of American banks
Startups there had deposited money in American banks. Amid economic instability, startups started withdrawing money. The bank had no money. For this, those banks had to sell the bonds they had bought. There was a loss of about Rs 15,000 crore in selling the bonds. In fact, banks buy bonds issued by the government with the money deposited. So that over time they can earn from that money. The US government had reduced the interest rate on bonds due to inflation and recession, due to which the banks had to incur losses on selling the bonds. After this banks issued a cash issue of 20,000 crores. Due to this, the news spread in the market that banks do not have money and its effect was on the shares of those banks. These banks were declared bankrupt in no time. In the list of bankrupt banks, not only one bank, but till now two of America’s and Europe’s largest bank Credit Suisse has also been included.