6 Replies to “Is it safe to deposit money in South Indian Bank or Karnataka Banks?”

  1. All deposits in Indian bank is covered by a Reserve Bank of India guarantee from Deposit Insurance and Credit Guarantee Corporation. However, this guarantee is only for Rs.100,000 which will include the capital + interest which will bepaid to you should the bank fold up. So, for large amounts non-scheduled banks are a No No. Go for nationalised banks becasuse it is hard for them to be going into liquidation for a long time. Cooperative Banks: Check their balance sheet to know their health.
    You can read: http://www.rbi.org.in/scripts/FAQView.aspx?Id=64
    Good luck

  2. in India all scheduled banks are well controlled by Reserve Bank of India.
    Further there is insurance for deposit to the extend of rs 1 lakh. Anyhow both are good banks
    It is safe to deposit with them.

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