What is it ?
When a bank is liquidated, depositors are entitled to receive an insurance amount of ₹1 lakh per individual from the Deposit Insurance and Credit Guarantee Corporation of India (DICGC).
The DICGC is a wholly owned subsidiary of the RBI. The ₹1 lakh insurance limit includes both principal and interest dues across your savings bank accounts, current accounts, fixed deposits and recurring deposits held with the bank.
WHAT SO FAR..
IN DECEMBER 28, 2019 DICGC proposes raising cover from the current ₹1 lakh to ₹3 lakh-₹5 lakh
Related committe
Damodaran committee(Committee on Customer Service in Banks, constituted under chairmanship of former SEBI chairman M. Damodaran) in its recommendation to RBI asked to increase DICGC limit to 5 lakh rupees.
Whats in Union budget 2019-2020
Deposit Insurance and Credit Guarantee Corporation (DICGC) permitted to increase Deposit Insurance Coverage to Rs. 5 lakh from Rs.1 lakh per depositor.
#unionbudget2019_2020
#economyshots
0 comments:
Post a Comment