Friday, September 19, 2008

How safe are private Indian Banks?

Recent, Financial crisis in US has already swallowed three banks out of top five banks and fourth bank is ready to join this group. US is a big financial power in present world and any crisis in US will definitely affect whole world. Now, how this crisis is going to hit Indian banks specially, private Indian banks.

Already, banks like ICICI have suffered major loses in their US business. This financial crisis has also gripped banks of many other countries like UK. Overall, banks around the world are going through bad times; therefore, we are seeing acquisition and mergers in this sector. It is difficult to tell exactly that how world banking crisis will affect Indian banks but one thing is clear that this crisis will put more pressure on Indian banks.

Moreover, this crisis will affect more to those banks which have more exposure to US market. Though at present there is no big worrying sign for these banks because Indian banks have solid financial condition and India government has assured to provide all assistance in any problem. This whole situation also provides a lesson to Indian banks that big outside exposure can prove fatal for them.

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