Reserve Bank of India (RBI) Governor Shaktikanta Das today said that about ₹3.74 lakh crore liquidity will be infused into the financial system to deal with the coronavirus pandemic. "Your money is safe," RBI governor assured the depositors.
He further said that "The Indian banking system is safe and sound. In the recent past, COVID-19 related volatility in the stock market has impacted share prices of banks as well, resulting in some panic withdrawal of deposits from a few private sector banks.
It would be fallacious to link share prices to safety of deposits. As I have mentioned in my earlier interaction with the media, depositors of commercial banks including private sector banks need not worry on the safety of their funds.