Budget relief: Depositors of stressed banks can access up to Rs 5 lakh of deposits

The finance minister said that the Deposit Insurance and Credit Guarantee Corporation (DICGC) Act, 1961 would be amended to create such a provision. The government raised the deposit insurance cover to Rs 5 lakh from Rs 1 lakh last year.

from Banking/Finance-Industry-Economic Times https://ift.tt/3j2fKRi