Depositors of three urban coop. banks that went bust to get back up to ₹5 lakh
The Hindu
77,819 people to be paid deposit insurance soon
A total of 77,819 depositors of three urban cooperative banks (UCBs) that have gone bust will be paid deposit insurance up to ₹5 lakh under the newly expanded scheme of the Deposit Insurance and Credit Guarantee Corporation, Union Minister Pralhad Joshi has said.
He was speaking here on Sunday after participating online in ‘Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to ₹5 Lakh’ programme chaired by Prime Minister Narendra Modi.
The Union Government recently brought in amendments to raise the ₹1 lakh deposit insurance to ₹5 lakh to ensure maximum number of depositors are benefited. They have also introduced a 90-day deadline for insurance payments to the depositors in case a bank goes bust.
Election Results 2024: arrangements made for counting of votes in Vizianagaram, Srikakulam districts
Election Results 2024: Vizianagaram district administration prepares for vote counting in seven Assembly seats and one Parliament seat at JNTU-GV University.