Dear friends, Many of you may have received scary whatsapp messages about the safety of your bank deposits. Well, while it is not yet time to panic, we are certainly heading in a dangerous direction. A new legislation with a 'bail in' clause allows the government to use bank deposits above a certain threshold (insured deposits) to bailout banks in a financial meltdown. It is another reason why we, as depositors, need to get together to protect our rights. Some of our demands have been met, but there is no move to reduce extortionate bank charges. I urge you to make another effort to get more people involved in this fight of ours! Do read: http://www.moneylife.in/article/do-bank-depositors-need-to-worry-about-frdi/52339.html thanks and regards Sucheta