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Friends,
I received this forwarded email message from a friend I know in India this morning:
quote
According to DSP Merrill Lynch' latest report the following Banks have been blacklisted.
1) Karnataka Bank 2) Laxmi Vilas Bank 3) Citi Union Bank 4) Dhanalaxmi Bank 5) Karur Vyasya Bank 6) Bank of Punjab 7) Development Credit Bank 8) Federal Bank 9) Lord Krishna Bank
This report is following Global Trust Bank and South Indian Bank's collapse. GTB merged with OBC but it is assumed problems will remain for depositors for atleast next 2 Yrs.
IDBI and Kotak Mahindra bank are also found weak but after IDBI bank's merger with IDBI nothing to worry. Kotak Mahindra Bank already has support from the entire Kotak Mahindra Group, so no need to worry. Look Business India's latest issue for detail coverage and ranks of Indian banks..
So if you have account with these banks, you know what to do and please make sure you forward this to your friends and relatives...
unquote"
Is this an email forwarding gimmick or a factual email. Could someone update me or verify the facts of this article in a brief reply,
Elton
