New Delhi: reserve Bank of India (RBI) Governor shaktikanta maid On Sunday cautioned depositors to be careful while chasing high returns as it comes with high risk.
Speaking on ‘Depositor First: Guaranteed Punctuality’ deposit insurance pay up Here the RBI governor said India can become the “gross driver” of the world economy if all the stakeholders of the banking sector work together.
He said that the RBI is proactive in strengthening the corporate governance guidelines of banks to ensure that the banking system remains strong and resilient.
“Recently two important milestones have been achieved in the banking system. After a gap of 27 years, we have increased the amount for these depositors from Rs 1 lakh to Rs 5 lakh. Rs 1 lakh was earmarked in 1993 The second important change was that banks will have to provide guaranteed deposits within 90 days. Das added.
PM Modi and Union Finance Minister Nirmala Sitharaman were also present in the program.
Prime Minister during the program Narendra Modi Hand over token checks to depositors of banks, who failed to return their money, under the scheme ‘Depositor First: Guaranteed Time-bound Deposit Insurance Payment up to Rs 5 lakh’.
With deposit insurance coverage of Rs 5 lakh per depositor per bank, the number of fully protected accounts at the end of the last financial year stood at 98.1 per cent of the total number of accounts against the international benchmark of 80 per cent.
(with inputs from agencies)
Speaking on ‘Depositor First: Guaranteed Punctuality’ deposit insurance pay up Here the RBI governor said India can become the “gross driver” of the world economy if all the stakeholders of the banking sector work together.
He said that the RBI is proactive in strengthening the corporate governance guidelines of banks to ensure that the banking system remains strong and resilient.
“Recently two important milestones have been achieved in the banking system. After a gap of 27 years, we have increased the amount for these depositors from Rs 1 lakh to Rs 5 lakh. Rs 1 lakh was earmarked in 1993 The second important change was that banks will have to provide guaranteed deposits within 90 days. Das added.
PM Modi and Union Finance Minister Nirmala Sitharaman were also present in the program.
Prime Minister during the program Narendra Modi Hand over token checks to depositors of banks, who failed to return their money, under the scheme ‘Depositor First: Guaranteed Time-bound Deposit Insurance Payment up to Rs 5 lakh’.
With deposit insurance coverage of Rs 5 lakh per depositor per bank, the number of fully protected accounts at the end of the last financial year stood at 98.1 per cent of the total number of accounts against the international benchmark of 80 per cent.
(with inputs from agencies)
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