Explained: Bank deposit insurance programme and norms to access funds

What is the news? The Prime Minister has addressed a programme titled ‘Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to ₹5 Lakh’. What did the PM say on deposit insurance? Recently, Parliament passed the Deposit Insurance and Credit Guarantee Corporation (DICGC) Amendment Act, 2021. Under the Act, each depositor in a bank is insured… Continue reading Explained: Bank deposit insurance programme and norms to access funds