How to Save Yourself from Crisis like PMC Bank
PMC bank crisis shows that it is very easy to find loopholes in government rules and regulation. PMC bank benefited HDIL with small loan account. monitoring the transaction and giving proper update is responsibility of RBI but at the end only end user is suffering. whatever happened in PMC bank crisis is not new it happened in past as well but it seems that RBI not learned from its past mistake.
Avoid opening Bank Account in Co-operative Bank.
PMC bank crisis shows that we should not open a bank account in Co-operative bank . Co-operative bank provide all banking facility which most of the private sector bank provide and public sector bank provide but co-operative bank are not in direct o I observation from of RBI as RBI does for major private and public sector bank.only a single department of RBI monitor the co-operative bank. if any co-operative bank near to your home easy to operate then only open a bank account and do not keep more than one lakh rupees which you will get as 100% sure under RBI depositor insurance guarantee scheme.
Keep your Money in different bank account.
RBI depositor Insurance Guarantee scheme is a third party insurance service that every co=operative, public and private sector bank have to take. which mean your money in any bank account up to. Rs.1 lakh is safe. It is very hard to manage your money by keeping in different bank account but no safe option.
Invest your Money but not in Bank Scheme.
Invest your money in Stock Market, Mutual Fund and Gold. If you invest your money in different segment then there are very less chance that your value of money will decrease. Invest your money in government PPF scheme which are very safe investment.
Take Home Loan as Investment.
Home loan Rate of interest is very low as compare to any type of loan, at a same time Home loan is loan against mortgage which mean it is always safe. there are many advantage and dis advantage of taking home loan which is a big topic to discuss. one of the biggest advantage of taking home loan is forceful saving of money due to this one solid reason everyone must take home loan.
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