The Union Finance Minister hiked the maximum insurance provided for bank deposits to ₹ 5 Lakh, per depositor, in her recent Union Budget 20-21. As per the existing guidelines of the Reserve Bank of India, ..
Deposit insurance: GK, General Studies and Current Affairs
The “bail-in” clause of the Financial Resolution and Deposit Insurance Bill (FRDI) has led to worries about the safety of bank deposits. It is different from a traditional bailout in which government’s money helps bank ..
The government has released the revised Draft ‘Banning of Unregulated Deposit Schemes and Protection of Depositors’ Interests Bill, 2016’ to crack down on Ponzi and illegal deposit schemes to protect the interests of depositors and ..
The Indian financial system currently consists of commercial banks, co-operative banks, financial institutions and non-banking financial companies (NBFCs). The commercial banks can be divided into categories depending on the ownership pattern, viz. public sector banks, ..