Deposits with banks are insured with Credit Guarantee Insurabnce to certain extent. So far any nationalized bank has not failed. The mortality rate is more of cooperative banks. It is all right to bank with nationalized and renowned private sector banks like ICICI Bank Ltd. However there is no absolite safety any where and we have to live with risks.
G. K. Ajmani Tax consultant http://gkajmani-mystraythoughts.blogspot.com/
The record of our Co-operative banks are particularly suspect.Although these banks also come under Deposit Insurance Coverage, corruption and politicization of management have led to bankruptcy of many such banks.
