How safe is Lakshmi Vilas Bank OR Tamilnadu Mercantile Bank ?

POSTED BY sudhakar ON November 5, 2013 5:09 pm COMMENTS (2)

Sir,

I would like to convert my Father in law retired money as FD in any one of the Banks since they are giving more interest than any other Banks.  Shall I deposit in these banks, please guide me how safe is this banks

2 replies on this article “How safe is Lakshmi Vilas Bank OR Tamilnadu Mercantile Bank ?”

  1. Both of these banks are not very small one’s ! . They are pretty old and have some history . So I would say that it would be fine to go with them as they are all listed with RBI and RBI must have done their bit of checking .. But you cant deny some bad experiences which are more of result of local officers actions .

    So what Vijay has mentioned might be result of the bank manager and officials working there not performing their duty properly .

    Manish

  2. vijay says:

    I’m pretty sure different people have different experiences, but….my uncle had once put some money with Tamilnadu Merc., he did eventually get his money back (with interest) but not before having to put up a fight and threatening them with legal action!

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