Which is safest bank 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).
According to RBI, the State Bank of India (SBI) is considered the safest bank due to its financial soundness, creditworthiness and significant presence in the market.
| Rank & Bank Name | Type | Market Cap (Rs Lakh Crore) |
|---|---|---|
| #1 HDFC Bank | Private | 10.94 |
| #2 ICICI Bank | Private | 7.07 |
| #3 SBI | Public | 5.48 |
| #4 Kotak Mahindra | Private | 3.52 |
In terms of asset quality, HDFC Bank exhibited strength compared to SBI. If we analyse some key ratios useful for evaluating the banking business, let's begin with the Price-to-Book (PB) value. SBI has a PB ratio of 1.63, whereas HDFC's PB ratio is 4.47.
- Axos Bank.
- Quontic.
- Western Alliance Bank.
- Capital One.
- Chase.
- Wells Fargo.
- U.S. Bank.
- PNC Bank.
- State Bank of India (SBI) State Bank of India, the largest public sector no. ...
- HDFC Bank. HDFC Bank is a leading private sector bank known for its robust financial performance. ...
- ICICI Bank. ...
- Punjab National Bank (PNB) ...
- Bank of Baroda (BoB) ...
- Axis Bank. ...
- Canara Bank. ...
- Union Bank of India.
The following top banks are known for their stability and safety measures, State Bank of India (SBI), HDFC Bank, and ICICI Bank.
The largest and the oldest bank which is still in existence is the State Bank of India (SBI).
| Rank | Bank name | Total assets (2022) (US$ billion) |
|---|---|---|
| 1 | Industrial and Commercial Bank of China Limited | 5,742.86 |
| 2 | China Construction Bank | 5,016.81 |
| 3 | Agricultural Bank of China | 4,919.03 |
| 4 | Bank of China | 4,192.12 |
SBI. SBI, also known as the State Bank of India, is a government-held bank. They offer a range of services for sending money internationally and have already processed more than $100 billion in international remittances this year.
Why HDFC is better than SBI?
Thus, SBI due to its strong retail orientation and consistent performance will see strong re-rating in the near to mid-term but for the long term, we prefer HDFC Bank which has the ability to deliver higher growth and better profitability consistently across cycles.
In India, HDFC Bank has continuously been ranked among the best banks in terms of both assets and client happiness. The Reserve Bank of India (RBI) controls the bank, ensuring that it follows strict financial laws and security procedures.
As per the data released by the Economic Survey 2021-22, 59% of State Bank of India (SBI) deposits are fully insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC), vis-a-vis their total bank deposits.
San Francisco-based First Republic Bank goes down as the second-largest failure in U.S. history. Santa Clara, California-based Silicon Valley Bank follows at number three on the all-time list and New York City-based Signature Bank is the fourth-largest bank to fail.
| Global Top 100 | ||
|---|---|---|
| Rank | Name | Fitch Rating |
| 1 | KfW | AAA |
| 2 | Zuercher Kantonalbank | AAA |
| 3 | BNG Bank | AAA |
You can talk to your bank to confirm your coverage. To look up your account's FDIC protection, visit the Electronic Deposit Insurance Estimator or call the FDIC Call Center at (877) 275-3342 (877-ASK-FDIC).
How will you know whether your bank is insured by the DICGC or not? The DICGC while registering the banks as insured banks furnishes them with printed leaflets for display giving information relating to the protection afforded by the Corporation to the depositors of the insured banks.
ICICI Bank has been performing exceptionally well in recent quarters, showing remarkable progress across several parameters. On the other hand, HDFC Bank has maintained a stable asset quality and net interest margin over an extended period.
- 1) State Bank of India (SBI) Savings Account.
- 2) HDFC Bank Savings Account.
- 3) Kotak Mahindra Bank Savings Account.
- 4) DCB Bank Savings Account.
- 5) RBL Bank Savings Account.
- 6) IndusInd Bank Savings Account.
- 7) ICICI Savings Bank Account.
- 8) Axis Bank Savings Account.
According to the Financial Stability Report released by the Reserve Bank of India on December 29, 2022, “the number of registered insured banks as on September 30, 2022 stood at 2,034 comprising 141 commercial banks and 1,893 cooperative banks.
Which bank is the safest in the world?
This year, BNG Bank ranks below German bank KfW (no. 1) and Swiss bank Zuercher Kantonalbank (no. 2). Global Finance's World's Safest Bank Awards will presented during the World Bank and IMF Annual Meetings in the Moroccan city of Marrakesh on Saturday 14 October.
Chase. One of the biggest banks, Chase, is also one of the most secure banks to keep your money safe. Chase offers Zero Liability Protection, so if unauthorized transactions are made under your name, you won't be held responsible.
Answer: RBI called the "mother of all banks" discussed below: The RBI controls the flow of currency within the economy.
| Sr. No | Savings Account | Interest Rate |
|---|---|---|
| 1 | Freo Save | Up to 7% |
| 2 | Ujjivan Small Finance Bank | Up to 7.50% [w.e.f. 15th November, 2023] |
| 3 | RBL | Up to 7.50% [w.e.f. 21st August, 2023] |
| 4 | Digibank by DBS | Up to 7% [w.e.f. 10th October, 2023] |
IDFC First Bank has soared the most, over 48 percent, followed by RBL Bank, up over 30 percent and IndusInd Bank, up over 17 percent. ICICI Bank, Axis Bank and Federal Bank have also added 3.8 percent, 3.3 percent and 2.8 percent, respectively, in 2023 YTD.
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