Is your money in the bank safe..!? Who will protect it..!?

Sowmiya Sriram
Is your money in the bank safe..!? Who will protect it..!?
We are making transactions with money in the bank account, such as savings account, salary account, and Jan's Yojana Account. Especially for wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital transactions, money is required in bank accounts. Who protects our money? Laxmi bank (Palai Central Bank) was introduced as a depository bank in the wake of the introduction of the Palai Central bank in 1960. The Deposit Insurance Corporation Bill was introduced in parliament on august 21, 1961, and came into effect on december 7, 1961. All state, central, and primary cooperative banks operating in the states and the central government are on the insurance list. The bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india (RBI) says the initial cooperative banks have not been insured by DICGC.
What does DICGC insure?: When a bank fails, DICGC provides insurance for deposits in the bank. DICGC ensures all accounts, such as savings accounts, permanent accounts, and continuous and fixed deposits. Do you have a paytm Payments Account? Do this first! The deposit account and savings accounts are insured up to Rs 5 lakhs.
 In the context of the elimination of a bank's license, dissolving, and banks, account holders in the bank are eligible to get this insurance. When a bank is bankrupt, every depositor has the responsibility to provide DICGC insurance. The dissolution officer should pay for two months from the date of the listener's list.
Although the same person has accounts in many banks, this insurance applies to all the accounts. So go to the website where the bank you have an account is on the list of DICGC. If your bank is closed or bankrupt, you will get an insurance amount.
For more interesting updates click and follow Indiaherald WhatsApp channel

Find Out More:

money safe

Related Articles: