New Delhi: In the midst of concern about the safety of bank deposits from Punjab and Maharashtra Co-Operative (PMC), Finance Minister Nirmala Sitharman said on Friday that the government is considering proposals to raise the insurance cap from existing Rs 1 lakh. In September, the Reserve Bank of India (RBI) placed restrictions on withdrawals at the PMC Bank following suspected Rs 4,355-crore irregularities. The cap has now been increased to Rs 50,000, but the fear of account holders about the future of their deposits has not been allayed. Currently, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and Credit Guarantee Corporation.
Related Post
Microsoft Inks Deal for Biochar Carbon Removal Credits
Microsoft signed a 6-year agreement with The Next 150, a climate solutions provider, to purchase 95,000 tons of carbon removal…
India Needs to Strengthen its Global Logistic Ties: Maha Governor
On Tuesday, while inaugurating the fifth edition of LOGIX INDIA 2024 in Mumbai, Maharashtra Governor Ramesh Bais stated that India…
Dr Sandip Bipte Adeptly Handles Intricacies of Breast Cancer Surgery
Dr. Sandip M. Bipte, Consultant Breast Surgeon, stands as a beacon of excellence in breast surgery. With an illustrious career…
Rating Agency Confident India’s Steelmakers Will Reduce Carbon Footprint by 2030
According to a survey by credit rating agency Crisil, domestic steel makers in India are on track to reach a…
Sutradhar: Celebrating Indian Women Entrepreneurs
Last week, Mumbai came alive for two days with a lively celebration of women’s entrepreneurship and innovation at the historic…
Special News
-
Janet Bray Attwood – A Passion Pioneer
December 27, 2023 -
Balattan leaves behind legions of admirers
October 12, 2021 -
Eulogy to a marketing colossus
August 30, 2021 -
Unsung warriors Mumbai Customs
July 13, 2021 -
Adieu to a top bureaucrat
July 11, 2021 -
New CBI chief can uncage the parrot
June 1, 2021 -
Shirley Pillai Saviour for school kids
May 30, 2021 -
BMC s Chahal Beacon of light in a crisis
May 23, 2021 -
Indu Jain an icon for all ages
May 19, 2021 -
Leela an Invaluable Name and a Unique Brand
May 18, 2021 -
Performing Surgeries Clinically
October 8, 2020 -
Jyothy Laboratories – A Business Imprinted in White
October 8, 2020 -
Vivek Nair – Unfolding the Hospitality Treasure
October 8, 2020
Top News
-
Prominent Citizens at Scholar’s Educare Annual Day Function
February 12, 2024 -
Marriage Meet by Bombay Keralaya Samaj
March 5, 2024