Govt has increased amount that depositors can get from banks under stress to Rs. 5 lakhs: PM
Prime Minister Narendra Modi addressed a function on “Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to Rs. 5 Lakh” in New Delhi. He said, "Banks play a major role in the prosperity of the country. And for the prosperity of the banks, it is equally important for the depositors’ money to be safe. If we want to save the bank, then depositors have to be protected."
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Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to Rs. 5 Lakh
Deposit Insurance and Credit Guarantee Corporation
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