India, Nov. 2 -- Finance Ministry insiders claim the sudden crisis enveloping the PMCB depositors has forced the government to put the state-owned banks, cooperative banks and also private banks on high alert.

NEW DELHI: An old guideline freshly stamped by officials of banks on passbooks of its customers has rattled hundreds of thousands of account holders. It says in as many as four lines that the bank will not be responsible for the loss of your cash in the event of a fraud and that you will get only Rs 100,000.

Those who have seen the message are shocked, the rest still live in hope that the Reserve Bank of India (RBI) will bail out the state-owned banks if there is an eventuality. No one knows what will be the fate of the private b...