If nationalised banks goes bankrupt

shanthi (Querist) 24 June 2012 This query is : Resolved
If Nationalised Bank goes bankrupt then will i get back all my deposits.
Are the deposits in nationalised insured?

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Nadeem Qureshi (Expert) 24 June 2012
yes, the govt is guarantor of all the nationalized bank

ajay sethi (Expert) 24 June 2012
nationalised bank govt of india has majority stakes . it is major shareholder in all public sector banks . dont fear your moeny is absolutely safe

Khaleel Ahmed Mohammed (Expert) 24 June 2012
Nothing to worry about nationalized banks.Your deposits are secured and guarantee by Reserve Bank of India.

shanthi (Querist) 24 June 2012
But Banks listed as nationalised like Bank of Baroda has been insured under DICGC in the list of commercial banks. Does that mean only 1 lac will be recovered in case of bankruptcy.

RAJU O.F., (Expert) 25 June 2012
Your deposits are safe in nationalised banks. DICGC insurance cover is not essential for them.

c.p.s. ramachary (Expert) 28 June 2012
Banks maintain certain percentages of monies in in RBI by way of Statutory Liquidity Ratio(SLR) and Cash Reserve Ratio to meet such contingencies. Further in nationalized banks Central Govt. holds 55% shake and is answerable to the public for settlement of their claims as a stake holder rather than as a guarantor

Guest (Expert) 28 June 2012
Nationalised bank cannot go bankrupt, provided there is no state of anarchy in the state. Your deposit is much more safe and secure in any nationalised bank as compared to any private bank. Whenever performance is noticed to be unsatisfactory, either the management is changed by the Government or the bank is merged with some other nationalised bank and the deposit of the public remain quite safe.

The Government of India is responsible to repay the money of the public in any case of under performance of a nationalised bank.

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