Budget relief: Depositors of stressed banks can access up to Rs 5 lakh of deposits

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Budget relief: Depositors of stressed banks can access up to Rs 5 lakh of deposits
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, ET Bureau
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Synopsis

The finance minister said that the Deposit Insurance and Credit Guarantee Corporation (DICGC) Act, 1961 would be amended to create such a provision. The government raised the deposit insurance cover to Rs 5 lakh from Rs 1 lakh last year.