Public sector banks are being looted

Some facts:

• Mallya stole ₹4,300 crore
• Nirav Modi stole ₹11,400 crore
• Vikram Kothari of Rotomac, stole ₹3,695 crore

This is only the tip of iceberg. These scams are being reported on front pages. Imagine how many scams are yet to be discovered. Smaller scams found, are not even reported.

Public sector banks are bankrupt. If you are keeping huge amounts in a public sector banks, then your deposits are at risk. For safety, consider moving your savings to a large private bank that has a much healthier balance sheet.