RBI Deputy Governor Rao moots periodic revision of deposit insurance

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RBI Deputy Governor Rao moots periodic revision of deposit insurance - Business Standard

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Additionally, the number of fully protected accounts constitutes 97.8 per cent as of March 31, 2024, of the total number of accounts in the banking system, as against the international benchmark of 80 per cent.

He further highlighted that the role of DICGC in supporting consolidation in the urban cooperative banks (UCBs) sector is a matter which requires greater focus under least-cost resolution principles, given its importance in driving financial inclusion and credit delivery to those with limited means.

He emphasised that there is a need to consider whether coverage of digital deposit-like products should also be an option for the deposit insurer.