Find out the truth about the HDFC viral passbook forward

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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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. 

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.

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