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DICGC BILL
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...- This 110-year-old bank has stopped its operations: What happens to savings account deposits, FD, RDs of customersThe Rupee Cooperative Bank, which has its headquarters in Pune, had its banking license taken away by the Reserve Bank of India (RBI), whic...
- 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...
- By November, Rs 10,000 crore will be payable to PMC, Guru Raghavendra customers under new banking Act“While banks are yet to finalise the eligible account holders, initial estimates suggest the total amount to be around Rs 10,000 crore,” a ...
- By November 30, depositors of moratorium banks will get up to Rs 5 lakh: Here’s howEven depositors of banks that are already under moratorium by the RBI before the amendments were made will be eligible to get their money b...
- Depositors of stressed banks to get up to Rs five lakh back from November 30The government has notified September 1, 2021 as the date on which the provisions of the Act shall come into force, according to a gazette ...
- Why it's important for government to maintain public confidence in banksIn the absence of swift policy action, there is potential to dent depositor trust. A sudden moratorium or embargo on access to bank account...
- Govt notifies general insurance and DICGC billsThe Deposit Insurance and Credit Guarantee Corporation (Amendment) Act ensures that bank account holders are paid up to ₹5 lakh within 90 d...
- Parliament passes Deposit Insurance and Credit Guarantee Corporation amendment billFinance Minister Nirmala Sitharaman, in her brief statement, said the legislation will benefit small depositors, including those of the Pun...
- Bill cleared to allow bank depositors to get up to Rs 5 lakh refund within 90 days under DICGC insuranceDuring a debate regarding the DICGC bill in the Rajya Sabha, it was clarified by the finance minister that PMC Bank depositors will also ge...
- RS passes Deposit Insurance & Credit Guarantee Corporation (Amendment) BillThe Bill proposes that even if a bank is temporarily unable to fulfil its obligations due to restrictions such as moratorium, depositors ca...
- Bank depositors to get up to Rs 5 lakh refund within 90 days under DICGC insuranceThis move is expected to cover around 98.3% of total number of accounts and 50.9% of the value of total deposits held with the banks
- Deposit insurance act amendments okayed, all kinds of deposits up to Rs 5 lakh in all types of banks to be insured98.3 per cent of all deposit accounts will get covered under it, in terms of value of the deposits over 50% coverage. Bank depositors will ...
- Govt may amend DICGC Act in monsoon session to provide timely service to ailing bank depositorsOnce the Bill becomes the law, it will provide immediate relief to thousands of depositors who had their money parked in stressed lenders s...
- How to make the FRDI bill more effectiveThe new Act should consider keeping its ripple effects on other laws to the minimum.
- 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.
- Deposit insurance in India covers 92% of accounts, 28% of banking deposits: RBIAt the end of FY19, the number of registered insured banks stood at 2,098, comprising 157 commercial banks, and 1,941 cooperative banks.
- FRDI bill dropped: Relief for bank customers as deposit insurance scheme will continueAll commercial banks and bank deposits will continue to be insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC).
- FRDI contemplating increase in deposit insurance cover: ReportThe report said that data on Cross Country Deposit insurance Coverage limit shows that Deposit insurance coverage in India is one of the lo...
- Uninsured depositors likely to get preference over other creditorsA bankruptcy framework covering all financial institutions, too, likely to be part of the proposed bill.
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