PMC Bank Crisis: Must dos when you think your bank deposits are no longer safe
Updated : October 02, 2019 11:43 AM IST
Presently, only a deposit up to Rs 1 lakh (including interest) is protected under the Deposit Insurance and Credit Guarantee Corporation Act.
Whenever you invest, make sure that you invest after due research, which at times becomes difficult because such fraud cases are difficult to identify.
As a customer, refrain from investing in banks (especially large amounts deposited in cooperative banks) which offer high-interest rates on their deposits and also provide a relaxed account opening process.
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