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Safety of investment in schedule bank

Prajakta Potdar (Chief Accountant) (142 Points)

12 May 2022

What is the meaning of scheduled bank in simple words to understand by an ordinary person?

In case of statutory body, is it safe to invest in Schedule bank to earn higher rate of interest on its investment?

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5 Replies

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 12 May 2022

Risk will be there as long as your money is with others.

Now stock market has crashed . So keep picking quality stocks like Reliance Industries,

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Prajakta Potdar (Chief Accountant) (142 Points)
Replied 13 May 2022

I mean at present being a statutory body, its fund is kept in nationalized banks fixed deposits only, but if committee want to yeild higher rate of interest on their Fixed Deposits, can they transfer fund in scheduled bank's fixed deposits without any risk?. I am not talking about investment in stock market. Please guide.

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 13 May 2022

You can do fixed deposits through bids considering highest interest rate

Prajakta Potdar (Chief Accountant) (142 Points)
Replied 13 May 2022

My doubt is whether Investment in fixed deposit of scheduled bank ( which includes private banks also) is as safe as fixed deposit of nationalized banks ( which includes only government banks) or not?

Whether investment in private scheduled bank's fixed deposit is at risk or safe?