illusion8
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will people deposit their money in pakistani banks?
Any bank starting operations in India have to deposit security deposits with RBI, and depending on the amount they deposit they are allowed to receive money from customers in the form of FD's, this deposit collected by the RBI is to safeguard the depositors money. If in the event that the said bank defaults the deposit is seized and the money returned back to the customers, so in India depositing in any bank is relatively safe and risk free. The RBI sets a ceiling to the amount a bank can transact and the bank has to reveal all details to the RBI and are not allowed to accept monies over the set ceiling.