Amid the ongoing banking crisis around the world, another bank has started to face the threat of sinking. Fleeing the danger of sinking of the banks, its trading has also been banned. This could be the third banking expansion after the sinking of Silicon Valley and Signature Bank and could have a worldwide impact again.
New York Stock Exchange on Wednesday imposed a complete ban on trading in the US market-listed First Republic Bank after its stock fell 39.2%. Along with the ban on trading, its effects also started to appear on other banking stocks.
After the huge fall in the city on Tuesday, the market capitalization of this bank has reduced by half. Let us tell you that to save a banks, other banks had taken $ 30 billion out of trouble, but the current situation seems to be in trouble again.
Know the safety of money in banks and banks of India.
If you keep your money in any bank recognized by the Reserve Bank of India in India, then your money is safe up to ₹ 500000 under the Deposit Guarantee Security Scheme.
The Reserve Bank of India has placed HDFC , SBI , ICICI in the category of Go to Big Too Fail in India. That is, if your money is in these banks, then it is the safest than any other banks in India because they have the strongest market capitalization and at the same time, if these banks collapse, then it can create a situation like drowning the Indian economy.