 "Finance Ministry, Deposit insurance limit, Reserve Bank of India, Sanjay Malhotra, RBI")
The government is actively considering a hike in the deposit insurance limit for bank deposits from the present level of ₹5 lakh within the next six months, a senior finance ministry official told Business Standard.
The deposit insurance limit refers to the amount of savings in bank deposits whose safety is assured if a lender goes bankrupt. The insurance, provided through the Deposit Insurance and Credit Guarantee Corporation (DICGC), covers all forms of deposits, including those in savings and current accounts, parked by customers with commercial and cooperative banks.
While the government is yet to take a final call on
