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The deposit insurance is technically only about Rs. 1.00.000 (~ $1500)
by threqwer34234 7y ago
The deposit insurance is technically only about Rs. 1.00.000 (~ $1500)
- ashkulz 7y agoIt was raised to 5x of that in February, but doesn't help as that requires the bank to be declared as failed. The regulator (RBI) has refused to do that in multiple instances, most notably in the case of PMC Bank a few months ago.
- sn41 7y agoThank you for that information. It makes much more sense now why these zombie banks are allowed to remain around.