Safest Banks in India

The best and safest banks in India include State Bank of India, HDFC Bank, ICICI Bank, Bank of Baroda, among others.

State Bank of India (SBI) is the biggest and among the safest banks in the country, offering a vast array of banking products and services. It has been voted as “The Best Domestic Provider of FX Services” and “The Best Domestic Provider of Single Bank Electronic Trading Platform” by Asia Money. It is also ranked No. 1 in a survey of top 5 companies in India in terms of financial reputation by Wall Street Journal Asia.

HDFC Bank is one of the safest banks in India. It has received numerous awards including: Best Cash Management Bank in India (The Asset Triple A Awards), World's Top 1000 Banks (The Banker Magazine), Best Trade Finance Provider in India for 2010 (Global Finance Award), etc. HDFC Bank has its deposit programmes rated by two rating agencies: Credit Analysis & Research Limited. (CARE) and Fitch Ratings India Private Limited. The bank's Fixed Deposit programme has been rated 'CARE AAA (FD)' (Triple A) by CARE.

ICICI Bank is India's second-largest bank, offering a broad range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank was voted as the Most Trusted Brand among private sector banks in the 2010 Economic Times - Brand Equity Most Trusted Brands Awards and ranked 7th in the list of Top 50 service brands.

Bank of Baroda is also a good and safe bank in India. It is the first Public Sector Bank having been assigned a rating to its Corporate Governance Practices by ICRA Limited. Bank of Baroda has been conferred upon Best Bank 2010 award by the prestigious financial magazine, Business India in recognition of its consistent performance.

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