PMC Bank fallout: Cabinet clears amendment to banking laws to strengthen cooperative banks; RBI nod to be made mandatory for appointments
The decision assumes significance in the wake of a scam in the PMC Bank affecting lakhs of customers who are facing difficulties in withdrawing their money due to restrictions imposed by the RBI.
'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
The Reserve Bank employees unions on Tuesday urged the government to hike the insurance cover on bank deposits from the present Rs 1 lakh to Rs 10 lakh
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
After the image started circulating on social media, HDFC Bank spokesperson has clarified that this is part of the mandatory RBI guidelines.
PMC Bank scam: Time to massively increase deposit insurance limit from present Rs 1 lakh, says SBI research report
The Punjab & Maharashtra Cooperative Bank (PMC) scam points to the urgent need to massively increase the depositor insurance cover from the present Rs 1 lakh, says a report