Hello,
I had a question on my rights in the event that the bank I hold a saving account with, is shut down. I have a savings account with a reputed private bank and I now hear rumours that the bank license might get cancelled by the government. I also have a locker with them with my valuables in it.
My question is that, in the event that their banking license does get cancelled, is the bank liable to return me my money back and my valuables? Also, what process will the bank follow and in how much time are they liable to return me my assets?
Any insights on the above will be very helpful.
Regards
