How safe are the deposits kept in Bank of India?

I understand the 1 lakh guarantee and the fact that SBI is probably the safest bank. Should one be concerned about large (multiple lakh) deposits at other nationalized banks such as Bank of India?

6 Replies to “How safe are the deposits kept in Bank of India?”

  1. The deposit you have with Bank of India is as safe as in any another nationalised banks in India. It seems you have not understood 1 lakh guarantee. it is applicable for all the banks or it is the same for locker in banks. Indian banking regulations are one of the best in the world.

  2. u r right, no bank is safe except StateBank because all Govt funds are kept with them. Sensible people are transferring money to StateBank and leaving little elsewhere. Keeping upto the safety limit of RsOnelac in each nationalised bank seems to be safe. Under Rare circumstances StateBank cannot be also trusted, if the times of depression get worse beyond our imagination, due to handwork of internaitonal financial criminals in the West and in our own country. Keep the money converted to land, and gold, and some in banks as said above.
    This is discussed in Google groups where you get more information. There is no need to fear about the bank that you mentioned. However the condition of nationalised is worse due to NonStaffing adopted as a measure to thward the survival of nationalised banks. The west was interested in destroying our nationalised industry. LIC alone survived all attacks and plans. They will not leave it too. The world is now full of highhanded politicans who are no 1 criminals and bureacrats cannot enforce law anywhere in the world.
    Thanks for asking a good question which will awake all;

  3. they are as safe as in sbi

    please give my answer-;_ylt=AiVw17CU7uy26gaN5pwE34mQHQx.;_ylv=3?qid=20090301175553AAo1862

  4. right now say for the next five years it is 100 percent safe ,in all indian banks but you will have evaluate the situation again after five years

  5. deposits in a nationalised bank are secure only if govt is in existance. if a govt fails your money will be a piece of just paper.

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