RBI's Board approves risk-based deposit insurance framework for banks

The Central Board of Directors of the Reserve Bank of India approved the risk-based deposit insurance framework for banks at the 620th meeting of the central board of directors of the RBI held in Hyderabad. The Board also reviewed the activities of select central office departments and the draft report on Trend and Progress of Banking in India, 2024-25.

 

“The Board discussed the global and domestic economic situation and associated challenges. It approved the risk-based deposit insurance framework for banks. The Board also reviewed the activities of select Central Office Departments and the draft Report on Trend and Progress of Banking in India, 2024-25,” the RBI said in a press release.

 

RBI Governor Sanjay Malhotra chaired the meeting. Other attendees included Deputy Governors T Rabi Sankar, Swaminathan J, Poonam Gupta and Shirish Chandra Murmu. Other directors of the Central Board, Nagaraju Maddirala, secretary, Department of Financial Services; Satish K Marathe, Revathy Iyer, Pankaj Ramanbhai Patel and Ravindra H Dholakia, also attended the meeting.