Lightning has struck twice. In a short span of around six months, bank depositors have been at the receiving end of the short circuit as it were. Punjab and Maharashtra (PMC) Co-operative Bank’s depositors faced restrictions imposed by the Reserve Bank of India (RBI), in September 2019. Last week, turbulence hit YES Bank, which is in the process of being rescued by the central bank and State Bank of India (SBI). Not surprisingly, the two events have shaken the confidence of retail depositors in banks, considered failsafe so far. While…
Read MoreYes Bank: How to protect your savings account from financial crises
