List of Safest Banks In India Declared By RBI (2024)

FAQs

Which are the safest banks in India declared by RBI? ›

The Reserve Bank of India (RBI) said State Bank of India, ICICI Bank and HDFC Bank continue to remain Domestic Systemically Important Banks (D-SIBs).

What Are The Safest Banks In India? In India, these three banks, SBI, HDFC, and ICICI, have been declared the safest due to their size.

State Bank of Sikkim is owned by the state government. Due to the special status accorded to Sikkim, State Bank of Sikkim was not under the purview of Banking Regulation Act of 1949 and Reserve Bank of India Act of 1934. Further readings: Granting License for Small Finance Banks by the Reserve Bank of India (RBI)

The top three Indian lenders — State Bank of India, ICICI Bank, and HDFC Bank — remained Domestic Systemically Important Banks (D-SIBs) for the banking regulator as the Reserve Bank of India (RBI) listed out lenders that were too big to fail in 2023.

6. Which bank is the safest bank in India? The Reserve Bank of India (RBI) regulates the safety of banks in India. Among the prominent banks known for their stability and safety measures are the State Bank of India (SBI), HDFC Bank, ICICI Bank, and Punjab National Bank (PNB).

A key metric that a bank customer needs to look at it is a bank's gross & net non performing assets, which shows what percentage of bank's loans are in danger of not being repaid. This signifies that bank's asset quality is poor due to a very high gross NPA ratio. Similarly, net NPA indicates the health of the bank.

The correct answer is Indian Overseas Bank. The RBI has removed Indian Overseas Bank (IOB) from the Prompt Corrective Action Framework (PCAF). The performance of the bank was reviewed by the Board for Financial Supervision.

Which bank has been cancelled by RBI? ›

The RBI cancelled licence of Adarsh Mahila Nagari Sahakari Bank Maryadit because: it does not have adequate capital and earning prospects, it failed in complying with multiple sections of the banking regulation act, and “the continuance of the bank is prejudicial to the interest of its depositors”.

State Bank of India is currently the top or number 1 government bank in the country. Currently, it has a massive customer base of 48 crores, along with 22,405 branches and 65,627 ATMs across the country.

NARCL, commonly known as bad bank, operates by acquiring bad loans from banks, paying 15 per cent of the amount in cash and the remainder in government-guaranteed security receipts, which banks can invoke during resolution or liquidation.

The bad bank in India will be called National Asset Reconstruction Ltd (NARC). This NARC will work as an asset reconstruction company. It will buy bad loans from the banks, relieving them of the NPA. NARC will then attempt to sell the stressed loans to distressed debt buyers.

As 2024 unfolds, the sector cautiously anticipates a favourable outlook. Stable interest rates, a robust GDP, and declining inflation could positively influence lending and deposit activities.

Reserve Bank of India. 1. Which banks are insured by the DICGC? Commercial Banks : All commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC.

JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.

The usual three — State Bank of India among public sector banks and HDFC Bank and ICICI Bank among private banks — found mention in the list. Colloquially, such banks are reckoned as 'too big to fail' and certainly so because they represent over 50 per cent of the country's total banking system.

Regulation by the RBI

Your investment in a bank is insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme, which covers your deposits up to Rs. 1 lakh for both principal and interest amount held in the same capacity and same right.