In a recent report the RBI ( Reserve bank of India) have revealed the banking institutions which are very safe . These banking institutions are most reliable banking firms.
The central bank of India that is The Reserve Bank of India (RBI) has made a list of the banks which are most trusted banks of the nation. This list includes one of the government sponsored banks.
The RBI in this list has listed the trusted the most reliable and one of the most trusted banks. These banks are so reliable that Indian economy is also dependent on it . If they suffer a loss , the whole country would feel its aftereffects.
There are two commercial banks and one public bank on this list of RBI. This is the list of Domestic Systematically Important Banks (D-SIBs). In this list , SBI ( State Bank of India), the private bank which are HDFC Bank ,and ICICI Bank , these are all included in it.
There are various famous banks which are also included in this list of important banks of RBI. RBI continuously keep a close eye on this firms and any bad news can have a huge effect . There are some regulatory requirements. The financial institutions need to maintain a certain percentage of their risk weighted assets as tier-1 equity . The RBI makes it compulsory for SBI to put aside 0.6% of its reserved assets as tier -1 equity , whereas HDFC and ICICI Bank are only required to maintain 0.2%.
The Reserve bank of India conducts an assessment of banks annually in August . The assessment is done on the basis on their reach and their operations . The listed banks are the ones with no fear of insolvency , and the government gives them any support if necessary.
As of march 2022 , RBI has compiled a list a top banks that perform well . There were only SBI and ICICI bank listed in the list of RBI in 2015, 2016.