Tag Archives: bank deposit insurance

Small depositors have protection through the DICGC’s (Deposit Insurance and Credit Guarantee Corporation) deposit insurance programme. Are your bank deposits insured if your bank fails? The recent news around IndusInd Bank has raised concerns about the safety of deposits. The Reserve Bank of India (RBI) has been quick to reassure bank customers that their deposits are safe.Small depositors have protection …

MUMBAI: The Centre is considering raising the insurance cover for bank deposits from the current limit of Rs 5 lakh, a senior finance ministry said on Monday.Three days after the New India Co-operative Bank was placed under moratorium by the RBI for irregularities, department of financial services secretary M Nagaraju said a proposal for higher deposit insurance is under review. …