RBI clarified whether your deposits are safe in banks!
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Amidst the crisis involving Yes Bank and Maharashtra cooperative Bank, the RBI has clarified that people should not be worried. It said that concerns have been raised in media about safety of deposits of certain banks, which is flawed. RBI said solvency of banks is internationally based on CRAR & not on market capitalisation. The apex bank closely monitors all the banks & so assured all depositors that there's nothing to worry.