If bank put under moratorium, customers to get Rs 5L insurance on deposits within 90 days: Govt

The government on Wednesday approved an amendment to Deposit Insurance and Credit Guarantee Corporation (DICGC) Act. The move implies that now bank depositors will get an insurance of Rs 5 lakh on deposits within 90 days of bank failure or moratorium.

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Jul 28, 2021 - 23:00
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If bank put under moratorium, customers to get Rs 5L insurance on deposits within 90 days: Govt
The government on Wednesday approved an amendment to Deposit Insurance and Credit Guarantee Corporation (DICGC) Act. The move implies that now bank depositors will get an insurance of Rs 5 lakh on deposits within 90 days of bank failure or moratorium.