October 17, 2019
This is with reference to an image of a passbook being circulated via Whatsapp and social media that seems to have caused some concern. This pertains to information about the deposit insurance cover. We’d like to clarify that the information has been inserted as per RBI circular dated June 22, 2017 which requires all Scheduled Commercial Banks, all Small Finance Banks and Payments Banks to ‘’incorporate information about ‘deposit insurance cover’ along with the limit of coverage upfront in the passbook.’’
The passbooks without printed information have been stamped with the requisite information so as to be fully compliant with extant RBI guidelines. Your money is safe with us.
Mr Neeraj Jha, Head, Corporate Communication, HDFC Bank Ltd.