DICGC : Bank deposit insurance increased from Rs. 1 lakh to Rs. 5 lakh
On the 1st of February 2020, Finance Minister Nirmala Sitharaman presented the Union Budget 2020 in the Parliament. In it, an increase in deposit insurance to Rs. 5 lakh was proposed which was earlier set at Rs. 1 lakh for the bank account holders. This revision in the insurance cover came into effect from the 4th of February, 2020. What is…