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FinMin, IRDAI seek insurance for bank deposits above Rs 1 lakh crore: Report

FinMin, IRDAI seek insurance for bank deposits above Rs 1 lakh crore: Report

Monday, December 30, 2019, 8:56 PM

The finance ministry and the IRDAI have recommended a cover for bank accounts with deposits above Rs 1 lakh, reports The Times of India. At present, the DICGC covers only deposits of Rs 1 lakh and below. The requests from the finance ministry and the insurance regulator comes in the aftermath of the PMC Bank scam, estimated at Rs 6,700 crore.
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