A picture of a stamped bank passbook has gone viral on social media with a claim that “HDFC BANK is using stamp on Passbook and declaring they are not liable to take the responsibility over one Lakh….that means savings upto *ONE LAKH ONLY is safe in Private Banks*“.
The stamp on the passbook read: “The deposits of the bank are insured with DICGC and in case of liquidation of the bank, DICGC is liable to pay each depositor through the liquidator. The amount of his deposit upto rupees one lakh within two months from the date of claim list from the liquidator.”
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HDFC BANK Using Stamp on Passbook and declaring they are not liable to take the responsibility over one Lakh….that means savings upto *ONE LAKH ONLY is safe in Private Banks* pic.twitter.com/YIpor9XOY4
— Rajiv Mehta (@rajivmehta19) October 16, 2019
HDFC BANK Using Stamp on Passbook and declaring they are not liable to take the responsibility over one Lakh….that means savings upto *ONE LAKH ONLY is safe in Private Banks* pic.twitter.com/naWjMXRcod
— Dr.Jitendra Awhad (@Awhadspeaks) October 16, 2019
FACT CHECK
When NewsMobile fact-checked the above post, we found it to be misleading.
When we contacted HDFC spokesperson Neeraj Jha said that the picture is misleading and the information in the passbook has been inserted as per RBI circular dated June 22, 2017, which requires ALL Banks, including 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. None of us should have cause for concern whatsoever,” HDFC head of corporate communications, Neeraj Jha said in a twitter thread.
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. None of us should have cause for concern whatsoever. (3/3)— Neeraj Jha (@NeerajHDFCBank) October 17, 2019
HDFC Bank stamped this information on those passbooks where it has not been printed already, in compliance with the above mention RBI notification. This was also put out as clarification by Jha.
An IMPORTANT CLARIFICATION w.r.t. a passbook image circulating on whatsapp and social media.
Link: https://t.co/nT9Wu9acya pic.twitter.com/K1EjbRK3sJ— Neeraj Jha (@NeerajHDFCBank) October 16, 2019