Bank deposit insurance has been increased from Rs 1 lakh to Rs 5 lakh.
Record: December 12, 2021 08:40
AM
New Delhi,
Prime Minister Narendra Modi addresses the ‘Bank Deposit Insurance Scheme’ today at Vigyan Bhawan in New Delhi. The event will also be attended by Union Finance Minister Nirmala Sitharaman and the Reserve Bank Governor, according to an official statement from the Prime Minister’s Office.
‘Deposit holders first; The event is titled ‘Guaranteed Deposit Insurance Amount up to Rs. 5 Lakhs’.
According to a press release issued by the Prime Minister’s Office,
‘The insurance scheme covers all deposits such as Savings Deposit, Fixed Deposit, Current Deposit, Serial Deposit available in all commercial banks operating in India.
Deposits in State, Central and Primary Co-operative Banks operating in the States and Union Territories are also included.
In addition, the amount of bank deposit insurance has been increased from Rs 1 lakh to Rs 5 lakh.
As reported.