Home »  Topic »  Centre considers raising insurance for deposits, more RBI scrutiny for banks

Centre considers raising insurance for deposits, more RBI scrutiny for banks


The plans come in the wake of the crisis at Mumbai-headquartered Punjab and Maharashtra Cooperative Bank (PMC) where customers have not been able to withdraw more than Rs 50,000 since late September when the central bank found violations of banking rules and under-reporting of bad loans.

business Updated: Nov 11, 2019 07:35 IST

RBI office in New Delhi (REUTERS)

The government is considering increasing the insurance on bank deposits to more than the Rs 1 lakh at present, with greater protection for senior citizens, and may bring all financial institutions under the Reserve Bank of India’s scrutiny ...


Read the full text hindustantimes