Depositor money insurance
itefiling.accfin@gmail.com (48 Points)
01 February 2020
what is Bank depositor money insurance cover increased to Rs. 5 Lakh from Rs. 1 Lakh?
3 Replies
Roshni
(Studwnt)
(1141 Points)
Replied 01 February 2020
Earlier if you get one lakh on maturity was exempt...now the said limit is 5 lakhs...that's the insurance in which we invest to claim 80C
Kapadia Pravin
(17264 Points)
Replied 01 February 2020
Roshni, your reply is out of context.
Under DICGC earlier depositors were insured to the tune of RS 1 lakh in case bank fails or collapses and defaults to repay money to depositors.
Now that DICGC gurrantee coverage has been increased to 5 lakhs. 👍
Under DICGC earlier depositors were insured to the tune of RS 1 lakh in case bank fails or collapses and defaults to repay money to depositors.
Now that DICGC gurrantee coverage has been increased to 5 lakhs. 👍
itefiling.accfin@gmail.com
(48 Points)
Replied 02 February 2020
Mr. Kapadia Pravin is absolutely right.
and thanks for clarification.
and thanks for clarification.
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