RBI new rules: In this era of new technology, the number of people using bank accounts is constantly increasing. It has been seen that many people even use more than one bank account. In such a situation, in today’s news, we are going to tell you about those rules of the Reserve Bank of India through which you can know how much money the customers will get back after a bank robbery.
With the changing times, new cases of robbery and theft are also coming up across the country. A few days ago, a case of robbery was also reported in the Indore branch of the country’s second largest government bank PNB. Seeing such cases, people have a question in their mind that if there is a robbery in the bank, will the customers get their deposited money back or not, let us make you aware of the rules of the Reserve Bank of India related to this fact today.
Experts say that in such an unfortunate situation, bank customers do not need to panic. They should have a little patience because RBI has made clear guidelines for such situations, due to which more and more customers get their money back.
Insurance cover on deposits (rules of Reserve Bank of India)
As per the rules of Reserve Bank of India, banks have to insure the deposits of their depositors. Banking experts say that a body called Deposit Insurance and Credit Guarantee Corporation (DICGC) has been formed in the country. All commercial banks, co-operative banks and foreign banks working in the country have to insure the deposits of their customers from DICGC. In case of bank sinking or robbery, the depositors get the insurance money back on their deposits from DICGC.
How much insurance cover is available?
DICGC provides insurance cover to the customers of banks not on their total deposit amount but only up to a certain deposit amount. At present, deposit insurance is available on an amount of up to Rs 5 lakh. Earlier this limit was only Rs 1.50 lakh. This insurance limit of Rs 5 lakh includes your deposit and the interest received on it.
On which deposits do you get insurance cover? (DICGC insurance cover)
You deposit your money in the bank in many ways, so RBI has prepared complete guidelines regarding which deposits come under the scope of insurance cover and which do not. The list of which of your money is safe is given below.
DICGC provides insurance cover on all types of money deposited in your savings, current, recurring account and fixed deposit.
Apart from this, DICGC provides insurance cover on the money of foreign governments deposited in the country.
DICGC insurance cover is available on the deposits of central and state governments.
Apart from this, insurance cover is also available on the money deposited by State Land Development Banks in state level co-operative banks.
You do not get DICGC insurance cover if the goods kept in the locker are looted.
