Checked reel · 4 Nov 2026
On November 3, 2026, Paraguay's central bank seized Ueno Bank after its solvency ratio collapsed from insider loans, freezing apps, cards, and accounts for 3 million users. That represents roughly 60 percent of Paraguay's adult population. The state pension fund had around 380 million dollars tied up in it, and official deposit insurance only covers up to about 38,000 dollars per customer. The warning about India is spot on too. Under RBI's DICGC rules, if an Indian bank goes under, your deposits are only insured up to 5 lakh rupees per bank.
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