Reserve Bank of India: There are many government and private banks in the country, but do you know which bank is the safest? The list of most trusted banks has been released by the Reserve Bank. You should also check which bank your account is in and how secure it is.
Reserve Bank of India: There are many government and private banks in the country, but do you know which bank is the safest? The list of most trusted banks has been released by the Reserve Bank. You should also check which bank your account is in and how secure it is. The Reserve Bank of India (RBI) has said that SBI, HDFC Bank and ICICI Bank remain important banks in terms of the financial system at the domestic level. At the level of the financial system in the country, these banks are so big that they cannot go under.
Since August 2015, the Reserve Bank is required to provide information about the names of banks important to the financial system every year in the same month.
According to the rules, such institutions can be placed in four categories on the basis of importance at the system level (SIS). The central bank said in the statement that ICICI Bank remains in the same category based structure as last year. Whereas SBI and HDFC Bank have moved to higher category.
SBI moved from category (bucket) three to category four and HDFC Bank moved from category one to category two. This means that banks will have to meet additional common equity share capital (Tier 1) as a percentage of risk weighted assets (RWA).
The surcharge for SBI on domestically important banks (D-SIBs) will be 0.8 percent from April 1, 2025. Whereas for HDFC Bank it will be 0.4 percent. RBI said that therefore till March 31, 2025, the D-SIB surcharge for SBI and HDFC Bank will be 0.6 percent and 0.20 percent respectively.
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