Tag Archives: RBI 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: India’s deposit insurance fund, close to Rs 2 lakh crore, is the third-largest globally. However, it covers only 46.3% of bank deposits due to the Rs 5 lakh cap on insurance coverage, putting it on the 8th position in terms of coverage.According to bankers, the scheme is adequate as most deposits are with public sector banks or systemically-important banks …