Budget 2020 Expectations: Rs 5 lakhs! Government may increase bank deposits insurance cover
The government may increase the insurance cover of your bank deposits, according to the sources in the government. The insurance cover may also be linked to inflation
As per the existing rules, irrespective of the bank deposits, the customer is entitled to an insurance cover of up to Rs 1 lakh in the event of a bank failure or if the licence of that bank is cancelled Source: Reuters