Periodic revision of deposit insurance coverage warranted: RBI dy governor

Q: How long will it take to read this news story?

The story "Periodic revision of deposit insurance coverage warranted: RBI dy governor" has 525 words across 13 sentences, which will take approximately 3 - 5 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Periodic revision of deposit insurance coverage warranted: RBI dy governor" was covered 9 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 264 news stories per day. It's most recent story was published 4 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #22139438</li><li>URL: https://beamstart.com/news/periodic-revision-of-deposit-insurance-17240735343</li></ul>

Business Standard Logo Business Standard 9h ago

Periodic revision of deposit insurance coverage warranted: RBI dy governor - Business Standard

Quick Summary:

Delivering the valedictory address at IADI Asia-Pacific Regional Committee International Conference 2024 hosted by Deposit Insurance and Credit Guarantee Corporation (DICGC) here last week, the Deputy Governor said it is important to ensure adequacy of insurance coverage for customer deposits.

A periodical upward revision of the deposit insurance coverage limit, currently at Rs 5, lakh, may be warranted considering multiple factors like growth in the value of deposits, inflation, and increase in income level, RBI Deputy Governor M Rajeshwar Rao has said.

In India, he said, the number of fully protected accounts constitute 97.8 per cent as on March 31, 2024 of the total number of accounts in the banking system as against the international benchmark of 80 per cent.