Business Today: New India Co-op Bank curbs: This CA feels parking ‘money in co-operative banks is not safe’ because... According to Chirag Chauhan, a chartered accountant (CA) by profession, parking your hard-earned money in a co-operative bank is a poor financial decision.  "Money in co-operative banks is not safe and secure. Only individuals with limited knowledge tend to park their funds in co-operative banks, sometimes in exchange for a slightly higher interest rate of 0.50%. However, this small benefit is not worth the risk," he shared on X. "Your money is safe only in public sector banks (PSUs), even during crises. For example, Punjab National Bank (PNB) did not default on deposits during tough times, as PSU banks are backed by the government. The Reserve Bank of India (RBI) should implement stricter regulations for co-operative banks to protect depositors from suffering losses," he added Full Link to Article : https://www.businesstoday.in/latest/trends/story/new-india-co-op-bank-curbs-this-ca-feels-parking-money-in-co-operative-banks-is-not-safe-because-464865-2025-02-17