August 2, 2011 2:19 pm
Is it true that we should not keep all our money in one bank?
I agree that we dont keep lot of money in banks directly but indirectly like FD’s, MF’s etc linked to one bank.
Your money deposited in bank is insured upto 1 lac by RBI.
Besides i would say that RBI who oversees all the banks in india is one of the vigilant and proactive bank regulator in the world and hence the fear is unfounded.
Hi Jagadees, Thank u for ur response.
I hesitated to ask reasons bcoz he is elder but he strongly suggests to distribute money in diff banks.
Did the person gave any rationale behind the advice?
I personally feel that having multiple accounts creates hassles and tough to track and hence i would prefer to be in one bank.
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