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Economic Survey 2021-22: Only 51% deposits insured despite hike in cover

However, the figure is higher than the international benchmark of 20-30%

banks, bank rate cuts, lending rates, deposits, savings, investment, schemes, shares, insurance
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Manojit Saha Mumbai
Even after increasing the deposit insurance to Rs 5 lakh from Rs 1 lakh, only about 51 per cent deposits are fully protected, though the figure remains higher than the international benchmark, the Economic Survey of 2021-22 said.

The survey, tabled in both the houses of the Parliament, said the total insured deposits were Rs 76.2 trillion as at end-March 2021 which was 50.9 per cent of the total assessable deposits which is Rs 149.7 trillion. This was higher than the international benchmark of 20-30 per cent, the Economic Survey observed.

When the deposit insurance was for Rs 1 lakh

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First Published: Jan 31 2022 | 2:38 PM IST

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