'No information' on raising Rs 1 lakh insured amount limit on bank deposits: RBI-owned subsidiary DICGC
There is "no information" on raising the Rs 1 lakh insurance limit on bank deposits, according to the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the Reserve Bank of India
Finance Minister Nirmala Sitharman on Friday said the government will bring legislations on raising insurance cover on bank deposits from the current Rs 1 lakh and regulating multi-state cooperative banks
Lesson from PMC Bank scam: Forensic, active supervision needed; RBI and govt must work to help whistleblowers, protect depositors
The PMC Bank episode compares in scale (with an approximate exposure of Rs 6,500 crore) with the Rs 7,855-crore Satyam Computer Services scandal, which has been dubbed as India's biggest accounting fraud.
FRDI Bill: Allaying depositors' fears, Arun Jaitley says govt open to raising deposit insurance cap from Rs 1 lakh
The bill is pending before the joint committee of both Houses and the government is awaiting the recommendations.
Remove 'bail-in' clause in FRDI Bill as deposits only way of saving money for elderly, pensioners: Assocham
Assocham Secretary General D S Rawat says bail-in concept especially for depositors should be completely done away with
FRDI Bill: An analysis of global experience explains why depositors in India should be indeed worried
In India, the deposit protection limit is Rs 100,000, roughly one-sixtieth of the value protected in other jurisdictions. The Rs 1 lakh limit was set in 1993, and hasn’t been upgraded since.