D-SIB means Domestic Systemically Important Banks, whose banks can be trusted most. According to the RBI, 3 big banks are included in them.
Over the past few months, there have been a lot of reports in the banking sector. There have also been reports of the sinking of many big banks. Such news made the common man worried about his money whether his money is safe or not. RBI keeps alerting customers of such incidents on its own day. Now the RBI has stamped the country’s three biggest banks to be the most reliable. Meaning if you have money in these three banks then it is completely safe.
The three big banks mentioned by the Reserve Bank of India are State Bank of India, ICICI Bank and HDFC Bank. If your account is in any one of these three banks, then your money is completely safe. The RBI has said this while releasing the list of D-SIB.
What happens D-SIB
D-SIB means Domestic Systemically Important Banks, whose banks can be trusted most. While releasing this list, the RBI has said that there are three such banks in the country, which have maintained the trust of customers even in adverse circumstances. In fact, during the Corona period the condition of the banking sector also deteriorated. Apart from this, after the Yes Bank case, the general public was afraid that their money was safe in the bank.
What did the RBI say
While releasing the list of D-SIB 2020, RBI has stated that the names of SBI, ICICI and HDFC are among the major lender banks, which, despite adversity, continue to be systematically important domestic banks in 2020. Talking of State Bank of India, the requirement of additional CET 1 as a percentage of bank’s risk weighted assets is 0.6 percent, while for ICICI and HDFC it is 0.2 percent.
