Your Bank Doesn't Want You To Know This UGLY TRUTH! | Mint Explains | Mint

The Indian banking sector is facing a crisis, with 13 banks shutting down in recent years. This has raised concerns about the safety of your money. In this video, we will answer: Why Are Banks Suddenly Failing?, Why are banks failing?, U.S. Banks Keep Failing, Why Do Indian Banks Keep Failing?, Why are Indian Banks Failing?, The Secret Money Saving Rule, how to save money in banks, DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION, DICGC Insurance Coverage on Bank Account & Bank Deposit 5 Lakhs, What Is DICGC, Deposit Insurance and Credit Guarantee Corporation, Bank Security, Banking. Your money is insured up to ₹5 lakhs per depositor per bank, thanks to the Deposit Insurance and Credit Guarantee Corporation (DICGC). However, it's important to be aware of the types of deposits covered by DICGC and to diversify your deposits across multiple banks to reduce risks. So, choose your bank wisely and stay vigilant! Subscribe to Mint for more informative videos on personal finance and economics!