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What happens to depositors If a bank goes into liquidation?

By IndianMoney , 8 months ago

Within two months from the date of receipt of the claim,the Deposit Insurance and Credit Guarantee Corporation becomes liable to pay to each depositor up to Rs. 5 Lakh, through the respective liquidator. (This is applicable from 1st april 2020)The DICGC pays the money to the liquidator(bank) who in turn pays it to the customer.

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