close
Choose your channels
Tamil » Business » Your bank deposits have insurance just up to Rs 1 lakh

Your bank deposits have insurance just up to Rs 1 lakh

Tuesday, December 3, 2019 • Tamil Comments
Listen to article
--:-- / --:--
1x
This is a beta feature and we would love to hear your feedback?
Send us your feedback to audioarticles@vaarta.com

If you own Rs 10 lakh as deposits in a bank and the bank fails, you will get Rs 1 lakh only as recovery. Not every single rupee you own as deposits will be returned. This has been confirmed by Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India.

This has always been the case for several years. And it has been reaffirmed by an RTI reply.

The Rs 1 lakh ceiling applies to savings, fixed, current and recurring accounts put together, not separately.

Follow us on Google News and stay updated with the latest!   

Headlines

Billie Eilish Takes Aim at Music Industry's Wasteful Packaging and Sales Tactics Billie Eilish Takes Aim at Music Industry's Wasteful Packaging and Sales Tactics
Man Enters Not Guilty Plea in Case of Fatal Border Crossing Attempt by Indian Family Man Enters Not Guilty Plea in Case of Fatal Border Crossing Attempt by Indian Family
Tiruparangunram Panguni Festival: Chariot Festival! Tiruparangunram Panguni Festival: Chariot Festival!
Japanese Premiere of 'Oppenheimer' Sparks Mixed Emotions Japanese Premiere of 'Oppenheimer' Sparks Mixed Emotions
Queen Camilla Steps Up Amid King's Recovery: Attends Royal Service Queen Camilla Steps Up Amid King's Recovery: Attends Royal Service
Tiruparangunram Murugan Thirukalyanam: In the presence of Goddess Meenakshi, there is a commotion! Tiruparangunram Murugan Thirukalyanam: In the presence of Goddess Meenakshi, there is a commotion!
OPS Faces Challenge: Five More PanneerSelvams Join Lok Sabha Race! OPS Faces Challenge: Five More PanneerSelvams Join Lok Sabha Race!
Diddy's Homes Raided Amid Allegations: Victims Speak Out to Feds Diddy's Homes Raided Amid Allegations: Victims Speak Out to Feds
Death of Giant Anaconda Sparks Concerns: Investigation Launched in Brazilian Amazon Death of Giant Anaconda Sparks Concerns: Investigation Launched in Brazilian Amazon
British Museum Takes Legal Action Against Former Curator Over Artifact Theft British Museum Takes Legal Action Against Former Curator Over Artifact Theft
Manickam Tagore, Vijaya Prabhakaran, and Raadhika Sarathkumar Officially in the Running for Virudhunagar Lok Sabha Seat 2024 Manickam Tagore, Vijaya Prabhakaran, and Raadhika Sarathkumar Officially in the Running for Virudhunagar Lok Sabha Seat 2024
Prince Harry Named in $30 Million Lawsuit Against Sean 'Diddy' Combs Over Alleged Scandal Prince Harry Named in $30 Million Lawsuit Against Sean 'Diddy' Combs Over Alleged Scandal