Deposit Insurance: Latest News and Updates, Top Stories, Videos, Photos About Deposit Insurance

RBI Imposes Withdrawal Limit on Sarvodaya Co-op Bank Facing Financial Issues

RBI imposes restrictions on Sarvodaya Co-op Bank, including a withdrawal cap at Rs 15,000 due to financial instability. Deposit insurance up to Rs 5 lakh....

Account In National Co-Operative Bank? Last Date To Submit Deposits Insurance Claims Up To Rs 5,00,000 Nears

The National Co-operative Bank, based in Bengaluru, came under RBI's radar last month which led the central bank to ban banking transactions in this bank. However, RBI had declared a relief to depositors of the bank to claim their entitled deposits ...

RBI Cancels License Of This Bank: Here's What Its Depositors May Face

On Thursday, the country's apex bank RBI suspended the license of West Bengal's United Co-operative Bank Ltd. The decision to this effect has been taken as the bank does not have sufficient capital as well as earning prospects to continue banking ...

Deposit Insurance Hike Becomes Effective From Feb 4, 2020

In a statement on Tuesday, the RBI has hiked insurance cover on deposits to Rs. 5 lakh from the earlier Rs. 1lakh effective Tuesday. The move is said to primarily benefit cooperative bank customers i.e. in case such banks fail, ...

Budget 2020: Deposit Insurance Hike Do Not Benefit All Depositors

To instill confidence in bank depositors who were witness to Punjab and Maharashtra Commercial Bank's debacle that led to restriction in deposit withdrawal as well as suspension of operation of the bank, there was a call to increase cover for bank ...

Centre To Increase Deposit Insurance To Rs. 5 Lakh, Pay More On Bank Failure

As per an Indian Express report, in case of bank failure, their liability will increase to Rs. 5 lakh as deposit insurance is proposed to be increased from the current Rs. 1 lakh to Rs. 5 lakh. This obligation for banks ...

Bank Deposit Insurance Limit To Be Increased: Govt

On Friday, Finance Minister Nirmala Sitharaman said that the government is planning to raise the deposit guarantee limit from existing Rs 1 lakh. The deposit insurance cover protects individual bank accounts when a lender (banks or other financial institutions) goes bankrupt ...

FRDI Bill Withdrawn: What This Means For Bank Depositors?

The Financial Resolution and Deposit Insurance (FRDI) Bill has been withdrawn from the Lok Sabha and this has come as a delight to account holders and depositors in bank. Here's provided the reason for it in detail: First a brief ...

5 Best Fixed Deposits With Highest Interest Rates For Senior Citizens Or Retirees

While at this point in time i.e. in your sunset years, safety of capital is the prime concern for you, still the availability of a number of investment options can lure you to make some extra money on your retirement corpus. ...

What Is FRDI Bill 2017 And Why It Worried Bank Depositors?

Financial Resolution and Deposit Insurance Bill 2017 similar to the Insolvency and Bankruptcy Code, 2016 resolves around creating a comprehensive framework for faster and cost-effective resolution of distressed financial entities. The bill was introduced in the Lok Sabha in August this ...

What is deposit insurance?

Deposit insurance is the cover against any kind of risk for the depositors' deposits held by the different banks in various forms such as term deposits, recurring or saving deposits. In India, as many as 2,199 banks are insured ...

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