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DEPOSITOR INSURANCE
RBI cancels licence of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit BankThe Reserve Bank of India has cancelled the banking license of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit Bank due to its de...- RBI imposes restrictions on Mogaveera Co-operative Bank for 6 monthsThe restrictions are effective from the closure of business hours on Friday for a period of six months and are subject to review, the Reser...
- Rs 10,000 monthly investment in post office RD vs SBI RD: Where will you get higher maturity amount in 5 years?Investing Rs 10,000 monthly in a Post Office Recurring Deposit for five years yields a higher maturity amount than an SBI RD. The Post Offi...
- Have unclaimed deposits, insurance, mutual funds? Government launches single portal to trace forgotten assetsThe Ministry of Finance has launched a new portal to help citizens find forgotten money. This initiative, called 'Your Money, Your Right', ...
- RBI cancels licence of Maharashtra-based The Yashwant Co-op BankThe Reserve Bank of India has cancelled the license of The Yashwant Co-operative Bank, Phaltan, Maharashtra, citing inadequate capital and ...
- RBI imposes restrictions on Etawah-based Nagar Sahakari Bank for 6 monthsThe Reserve Bank of India has placed restrictions on Etawah-based Nagar Sahakari Bank. Customers can withdraw a maximum of Rs 10,000. The b...
- RBI cancels licence of Mumbai-based Sarvodaya Co-operative BankThe Reserve Bank of India has made the tough call to withdraw the license of Sarvodaya Co-operative Bank, a decision rooted in the bank's f...
- FD rate up to 8.05% for senior citizens investing for five years; Know list of banksFor senior citizens looking to maximize their savings, attractive fixed deposit rates are still within reach. Suryoday Small Finance Bank p...
- UDGAM portal facilitates users to search unclaimed deposits across multiple banks: RBI to SCThe submissions were made before a bench of Justices Vikram Nath, Sandeep Mehta and Vijay Bishnoi which was hearing a plea filed by journal...
- RBI cancels Paytm bank license, to approach high courtThe Reserve Bank of India has taken decisive action against Paytm Payments Bank by cancelling its banking licence. This means that the bank...
- RBI cancels licence of Shirpur Merchants' Co-operative BankThe Reserve Bank of India has cancelled the licence of The Shirpur Merchants' Co-operative Bank. This action is due to the bank's insuffici...
- Another bank in crisis: RBI stops customers from withdrawing money; what are your rights as depositors if your bank fails?What happens to your money if a bank fails in India? The Reserve Bank of India (RBI) has imposed restrictions on Shirpur Merchants' Co-oper...
- HDFC-HDFC Bank merger: Interest, depositors’ insurance, withdrawal rules; what changes for HDFC FD customersHDFC is all set to merge with HDFC Bank by June 2023. The merged entity will be known as HDFC Bank. Customers of HDFC, whether borrowers or...
- Bank FDs offer 8.5% interest: What is the right amount to invest in FD that will be fully safe?Bank FD interest rates: Now, a whopping 8.5 to 9 per cent return from fixed deposits might be a lucrative option for many traditional inves...
- DICGC to make payments in October to depositors of 17 co-op banks facing RBI restrictionsThe Reserve Bank of India (RBI) had imposed several restrictions, including on withdrawals, by depositors of 17 cooperative banks in July i...
- RBI's deposit insurance arm to pay depositors of two co-operative banks in AugustEligible depositors of Shankarrao Pujari Nutan Sahakari Bank will get the payment on August 10, and those of Harihareshwar Sahakari Bank on...
- Depositors of Lucknow cooperative bank to get money from DICGC on April 27Depositors of Beed-based Dwarakadas Mantri Nagari Sahakari Bank will get payments on June 6. DICGC, a wholly-owned subsidiary of the RBI, p...
- Deposit Insurance Scheme: 1 lakh plus depositors get over ₹1,300 crore payoutThe scheme seeks to provide insurance for bank deposits and guarantees credit given by banks and financial institutions. It aims to provide...
- Depositors of 21 failed cooperative banks including PMC to get deposit insurance coverBanks have been asked to submit claims latest by October 15 and update the position as on November 29, 2021 along with principal and intere...
- You could lose a large part of your savings if your bank failsIndia is among the countries that offer the lowest protection to depositors in cases of bank failure.
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