Though the nation is home to numerous government and commercial banks, are you aware of which one is the safest? The Reserve Bank has published its ranking of the most reputable banks. Additionally, you want to confirm the security level and bank that your account is with. According to the Reserve Bank of India (RBI), SBI, HDFC Bank, and ICICI Bank continue to play a significant role in the domestic financial system. These banks are so large within the nation’s financial system that they are unassailable.
The Reserve Bank has been
obligated since August 2015 to submit an annual report in the same month that includes the names of institutions that are significant to the financial system. As per the regulations, these establishments can be categorized into four groups based on their significance at the system level (SIS). In the announcement, the central bank stated that ICICI Bank is still organized according to the same categories as it was the previous year. SBI and HDFC Bank, however, have advanced to a higher level.
HDFC Bank went from category one to category two,
and SBI moved from category (bucket) three to category four. As a percentage of risk-weighted assets (RWA), banks will therefore need to meet additional common equity share capital requirements (Tier 1).
As of April 1, 2025,
domestically significant banks (D-SIBs) will be subject to a 0.8 percent SBI surcharge. In contrast, HDFC Bank will receive 0.4 percent. RBI stated that as a result, till March 31, 2025, the D-SIB surcharge for SBI and HDFC Bank will be 0.6 percent and 0.20 percent respectively.
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