Finance Minister Nirmala Sitharaman presenting Union Budget 2020-21 in the Lok Sabha on Saturday. Photo/ANI
Finance Minister Nirmala Sitharaman presenting Union Budget 2020-21 in the Lok Sabha on Saturday. Photo/ANI

Deposit insurance cover up to Rs 5 lakh

ANI | Updated: Feb 01, 2020 13:07 IST

New Delhi [India], Feb 1 (ANI): In a major relief to the people, the Centre on Saturday announced to increase the insurance coverage of their bank deposits from Rs 1 lakh to Rs 5 lakh.
Presenting the Union Budget 2020-21 in the Lok Sabha on Saturday, Finance Minister Nirmala Sitharaman said that "Deposit Insurance and Credit Guarantee Corporation has been permitted to increase deposit insurance coverage to Rs 5 lakh per depositor from Rs 1 lakh." (ANI)

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