In case of moratorium, depositors will receive Rs 5 lakh insurance within 90 days: Govt


Union Information and Broadcasting Minister Anurag Thakur on July 28 said that the Deposit Insurance Credit Guarantee Corporation was created in case people faced difficulties after RBI imposes moratoriums on banks.

“Today’s Cabinet meeting has decided that within 90 days, depositors will receive Rs 5 lakhs of their money,” said Thakur. He added, “To provide ease of doing business benefits to law-abiding corporators in LLP firms, the criminality has been removed. A penalty in the form of a fine has been decided for violations of general trends. This boosts Aatmanirbhar Bharat”.