Is IDFC first bank safe
? Let me explain this.
IDFC FIRST Bank is a scheduled commercial bank in India. Here are some factors to look on while evaluating the safety of a bank:
Check if the bank is regulated by the Reserve Bank of India (RBI), a reputable financial regulatory authority.
Deposit up to a 5 lakhs per account holder in scheduled commercial banks are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC). This means, if the bank fails, your deposits up to this limit are protected.
Research the bank's financial statements, quarterly reports, and credit ratings provided by reputable rating agencies. A bank with a strong financial position is considered safer.
The Banks with a long track record of stability and reliability are considered safer.
Also, check the bank's capital adequacy ratios and customer feedback.
The government and the RBI includes policies and interventions to prevent systemic failures to support the stability of the banks.
So the answer to
is IDFC Bank safe or not
? Yes it is safe or you can do your own due diligence.
Apply for a home loan with IDFC Bank through NoBroker for lowest interest rates Get solutions to your legal queries with No BrokerRead more
How to check which number is linked with bank account?
How to Deactivate Autopay in HDFC Netbanking?
How to Approach Banks to Provide Space for Bank Branch
Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
Is IDFC Bank Safe?
Priyanshi Yadav
2219 Views
1
1 Year
2023-09-28T12:57:32+00:00 2023-09-28T15:20:00+00:00Comment
Share