Deposit insurance cover up to Rs 5 lakh

Source :ANI
Author :ANI
Last Updated: Sat, Feb 1st, 2020, 15:05:35hrs
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Rupee

New Delhi: In a major relief to the people, the Centre on Saturday announced to increase the insurance coverage of their bank deposits from Rs 1 lakh to Rs 5 lakh.

Presenting the Union Budget 2020-21 in the Lok Sabha on Saturday, Finance Minister Nirmala Sitharaman said that "Deposit Insurance and Credit Guarantee Corporation has been permitted to increase deposit insurance coverage to Rs 5 lakh per depositor from Rs 1 lakh." 

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