Deposit insurance may be hiked to Rs 5 lakh, says report
Updated : November 18, 2019 09:58 AM IST
The current limit in deposit insurance was last revised on May 1, 1993, after the Bank of Karad went down in the securities scam of 1992.
Additionally, the finance ministry is likely to introduce a new scheme raising deposit insurance for wholesale depositors at Rs 25 lakh.
The two issues may figure when the Reserve Bank of India’s central board meets on December 13 in Odisha’s capital Bhubaneswar.