Which is safest bank in India? (2024)

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).

Which is the No 1 safest bank in India?

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.

Who is No 1 bank in India?

Top Indian banks in 2024 based on market cap
Rank & Bank NameTypeMarket Cap (Rs Lakh Crore)
#1 HDFC BankPrivate10.94
#2 ICICI BankPrivate7.07
#3 SBIPublic5.48
#4 Kotak MahindraPrivate3.52
6 more rows
Jan 25, 2024

Which bank is safe SBI or HDFC?

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.

Which is the best and safest bank?

The safest banks in the U.S.
  • Axos Bank.
  • Quontic.
  • Western Alliance Bank.
  • Capital One.
  • Chase.
  • Wells Fargo.
  • U.S. Bank.
  • PNC Bank.
Dec 28, 2023

Which bank is most trustworthy in India?

Overview of 10 Best Banks in India 2023
  1. State Bank of India (SBI) State Bank of India, the largest public sector no. ...
  2. HDFC Bank. HDFC Bank is a leading private sector bank known for its robust financial performance. ...
  3. ICICI Bank. ...
  4. Punjab National Bank (PNB) ...
  5. Bank of Baroda (BoB) ...
  6. Axis Bank. ...
  7. Canara Bank. ...
  8. Union Bank of India.
Sep 12, 2023

Which bank is highly secure in India?

The following top banks are known for their stability and safety measures, State Bank of India (SBI), HDFC Bank, and ICICI Bank.

Who is the king of bank in India?

The largest and the oldest bank which is still in existence is the State Bank of India (SBI).

Which is richest bank in world?

By total assets
RankBank nameTotal assets (2022) (US$ billion)
1Industrial and Commercial Bank of China Limited5,742.86
2China Construction Bank5,016.81
3Agricultural Bank of China4,919.03
4Bank of China4,192.12
96 more rows

Which bank is best for international transactions in India?

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.

Can HDFC Bank be trusted?

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.

Is it safe to keep money in SBI?

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.

Which banks are in trouble in 2023?

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.

Which bank is the most financially stable?

Global Top 100
RankNameFitch Rating
1KfWAAA
2Zuercher KantonalbankAAA
3BNG BankAAA
35 more rows
Nov 10, 2023

How do I know if my bank is safe?

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 do I know if my bank is safe in India?

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.

Which bank is safe Icici or HDFC?

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.

Which bank is best for account in India?

Overview of the Top Savings Bank Accounts of 2024
  • 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.
Jan 10, 2024

How much Indian banks are safe today?

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.

Which bank has more security?

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.

Which bank is mother of all banks in India?

Answer: RBI called the "mother of all banks" discussed below: The RBI controls the flow of currency within the economy.

Which bank gives highest interest rate on savings account in India?

List of Savings Accounts with Highest Interest Rates
Sr. NoSavings AccountInterest Rate
1Freo SaveUp to 7%
2Ujjivan Small Finance BankUp to 7.50% [w.e.f. 15th November, 2023]
3RBLUp to 7.50% [w.e.f. 21st August, 2023]
4Digibank by DBSUp to 7% [w.e.f. 10th October, 2023]
15 more rows

Which is the fastest growing bank in India 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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