{"id":86450,"date":"2020-02-02T15:41:32","date_gmt":"2020-02-02T10:11:32","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=13418"},"modified":"2020-02-02T15:41:32","modified_gmt":"2020-02-02T10:11:32","slug":"budget-2020deposit-insurance-cover-raised-to-%e2%82%b95-lakh","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/budget-2020deposit-insurance-cover-raised-to-%e2%82%b95-lakh\/","title":{"rendered":"Budget 2020:Deposit Insurance cover raised to \u20b95 lakh"},"content":{"rendered":"\n<p><strong>News:<\/strong>The Finance minister has announced in the Budget that the Deposit insurance cover for bank deposits has been raised to Rs 5 lakh from Rs 1 lakh.<br><\/p>\n\n\n\n<p><strong>Facts:<\/strong><br><\/p>\n\n\n\n<p><strong>About Deposit Insurance:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Deposit insurance is providing insurance protection of Rs 1 lakh to the depositor\u2019s money by receiving a premium.<\/li><li>The government has set up Deposit Insurance and Credit Guarantee Corporation (DICGC) under RBI to protect depositors if a bank fails.<\/li><li>The Deposit cover is for deposits in commercial banks, regional rural banks (RRBs), local area banks (LABs) and cooperative banks and branches of foreign banks in India.<\/li><li>In Budget 2020,the Government has now raised this Deposit insurance cover to Rs 5 lakh from Rs 1 lakh.<\/li><\/ul>\n\n\n\n<p><strong>About DICGC:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Deposit Insurance and Credit Guarantee Corporation (DICGC) is a subsidiary of the Reserve Bank of India(RBI).<\/li><li>It was established in 1978 as a statutory body under Deposit Insurance and Credit Guarantee Corporation Act,1961.<\/li><li>The act provides for the establishment of a Corporation for the purpose of insurance of deposits and guaranteeing of credit facilities and for other matters connected therewith or incidental thereto.<\/li><li>The Deputy Governor of RBI acts as its Chairman of DICGC.It is headquartered in Mumbai.<\/li><\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>News:The Finance minister has announced in the Budget that the Deposit insurance cover for bank deposits has been raised to Rs 5 lakh from Rs 1 lakh. Facts: About Deposit Insurance: Deposit insurance is providing insurance protection of Rs 1 lakh to the depositor\u2019s money by receiving a premium. The government has set up Deposit&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/budget-2020deposit-insurance-cover-raised-to-%e2%82%b95-lakh\/\">Continue reading <span class=\"screen-reader-text\">Budget 2020:Deposit Insurance cover raised to \u20b95 lakh<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[310],"class_list":["post-86450","post","type-post","status-publish","format-standard","hentry","category-economy","tag-deposit-insurance","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704741419},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=86450"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86450\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}