RBI Releases List of India's Safest Banks; SBI, HDFC, ICICI on Top
The Reserve Bank of India (RBI) has once again retained State Bank of India (SBI), HDFC Bank, and ICICI Bank in the list of Domestic Systemically Important Banks (D-SIBs).
India's 3 safest banks
The RBI has announced that SBI, HDFC, and ICICI Bank remain on the D-SIB list. These banks are so crucial to the economy that they are considered 'too big to fail'.
Bank Monitoring
To ensure stability, these banks must hold extra Common Equity Tier 1 (CET1) capital. RBI mandates an additional 0.10% for ICICI, 0.40% for HDFC, and 0.80% for SBI.
Safety Banks
If these banks fail, the entire financial system could collapse. So, the RBI and government tighten rules to ensure stability. A key rule is holding more CET1 capital.
Reserve Bank
RBI introduced the D-SIB framework in 2014 and has announced the list annually since 2015. It includes banks with a major impact on the nation's financial system.
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