The government has notified the General Insurance Business (Nationalisation) Amendment Bill and the Deposit Insurance and Credit Guarantee Corporation (DICGC) (Amendment) Bill, after Presiden
Deposit insurance limit for institutional investors must be raised: Marathe
Govt likely to table amendment in DICGC Act in monsoon session
Considering the news that the amendment to the Deposit Insurance and Credit Guarantee Corporation (DICGC) Act, 1961 will be tabled in the upcoming monsoon session, Sahakar Bharati has called for raising deposit insurance limit for institutional investors to Rs 25 lakh.
Talking to Indian Cooperative correspondent Sahakar Bharati ‘s one of the founder Chairmen and RBI central board director Satish Marathe said, “We had demanded a separate Deposit Insurance Limit for Institutional Depositors, Special Provision in the DICGC Act, 1961 to protect the interests of Depositors of fraud affected banks like PMC Bank Ltd, Pen Urban Co-op Bank Ltd, etc.