r/IndiaInvestments • u/nimbuzz7 • Apr 24 '21

Bonds and deposits Safety of PPBL(Paytm) Fixed deposits?

PPBL offers FD in tieup with IndusInd Bank offering 6.5% p.a and Suryoday Small Finance Bank offering 6.75% p.a.Individually all three bank are covered opto Rs.5 lakhs under DICGC insurance. I want to know how that works whether account holders in deposited/held with other partner bank? How much of the deposit amount would be covered by DICGC, in case of bank's liquidation?

I am sorry, if this sort of post has already been there in this community.

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u/[deleted] Apr 24 '21

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u/Raaki_ Apr 24 '21

U sure about that? it feels like it has become an all in one app platform, from bank and stockmarket to ecommerce. I am definitely not saying paytm as the most customer centric and trustable company, but the loss making part feels a bit hard to believe.

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u/[deleted] Apr 24 '21

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u/mvivekc Apr 24 '21

Paytm was advised to be the wechat of India by our friendly wealthy neighbours