The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Crime
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • Nagpur City
  • Politics
  • Business
  • Nagpur Education
  • Entertainment
  • Nagpur Sports
  • Health
  • Vidarbha
  • Crime
  • Obituary
Business

RBI unions seek hike in deposit insurance cover

by Alice Francis November 21, 2019November 21, 2019
written by Alice Francis November 21, 2019November 21, 2019
RBI unions seek hike in deposit insurance cover

The Reserve Bank employees’ unions on Tuesday demanded the Government to hike the insurance cover on bank deposits from the present Rs 1 lakh to Rs 10 lakh.

The demand which was last revised in May 1993, has come after the ongoing crisis at Punjab and Maharashtra Cooperative Bank.

Recently, Finance Minister Nirmala Sitharaman had said that the Government would bring in a legislation during the ongoing Winter session to increase the deposit insurance cover from Rs 1 lakh, but did not specify a number.

According to a recent report by SBI Research, at Rs 1 lakh, the cover is one of the lowest and is at only 0.9 times per capita income. As against this, in Brazil and Russia, the same stands at Rs 42 lakh and Rs 12 lakh respectively.

The All-India Reserve Bank Employees Association had earlier suggested hiking the insured deposit cover to at least Rs 10 lakh, covering all types of deposits of an individual, which we reiterate and urge the Government to consider”.

At present, the Deposit Insurance and Credit Guarantee Corporation insures each bank depositor up to a maximum of Rs 1 lakh for both principal and interest as on the date of liquidation or cancellation of a bank’s licence.

0 comment
FacebookTwitterLinkedin
Alice Francis

previous post
An ‘In – house Lecture ‘on Forensic Science held at T.B.R.A.N.’s M.E.M.S
next post
Despite of good rainfall, city to get less water

You may also like

CAIT Launches Nationwide Campaign to attract Govt’s attention...

March 4, 2021

MG Motor India and MG Nagpur Dealership donates...

March 2, 2021

VTA requests CBSE to hold exams online

March 2, 2021

Deepika Padukone now reigns Spices Category!

March 1, 2021

GST issues, malpractices, CAIT to begin nation-wide agitation...

March 1, 2021

Ranjit Singh new chairman of CII Vidarbha Zone

February 28, 2021

CAIT call Bharat Vyapar Bandh was successful- Bandh...

February 26, 2021

City traders give lukewarm response to CAIT’s ‘Bharat...

February 26, 2021

NVCC supports CAIT demands for Bharat Vyapar Bandh...

February 24, 2021

Bank account, properties to be seized for violation...

February 24, 2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.



Trending News

  • 18 services under RTO moves online

    March 5, 2021
  • COVID-19: Central Govt issues fresh guidelines for restaurants, shopping malls

    March 5, 2021
  • Yog Nritya spreading fitness in city gardens

    March 3, 2021
  • In10 Media Network’s New Hindi General Entertainment Channel ‘Ishara – Zindagi Ka Nazara’

    March 1, 2021
  • Sony launches digital voice recorder PCM-A10 for supreme sound, superior recording

    March 1, 2021

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

November 2019
M T W T F S S
« Oct   Dec »
 123
45678910
11121314151617
18192021222324
252627282930  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Crime
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.