A decision was taken on many big topics in the Union Cabinet meeting on Wednesday, during which the cabinet has approved changes in the DICGC Act (DICGC 2021).
New Delhi: The Modi government has given a big relief to the people with money stuck in banks that have been closed or canceled due to some reason, the Union Cabinet has given a big relief to the account holders (banks) in the event of bank sinks. The proposal to amend the DICGC Act has been approved to provide security to the account holders to receive their amount up to Rs 5 lakh within 90 days, this decision was taken in the meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. Went.
Union Finance Minister Nirmala Sitharaman said that the amendment to the Deposit Insurance and Credit Guarantee Corporation (DICGC Act) Act has been approved in the cabinet meeting chaired by PM Modi, he said that the bill related to this has been introduced in the current monsoon session. Will go
This was announced by Finance Minister Nirmala Sitharaman in the budget.
It is being told that this step will help the depositors to ensure access within the stipulated time-frame and meet the financial needs, it was announced by Finance Minister Nirmala Sitharaman in the budget, which has now been implemented by the government. The motive behind this decision is that the money deposited by the customers in the bank can be safe.
In Budget 2021, the Fin
Under DICGC Bill 2021, 98.3% of all deposits will get covered and in terms of deposit value, 50.9% deposit value will be covered. Global deposit value is only 80% of all deposit accounts. It only covers 20-30% of deposit value: Finance Minister Nirmala Sitharaman pic.twitter.com/UFJi7ZsFG5
— ANI (@ANI) July 28, 2021
In Budget 2021, the Finance Minister had announced to increase the limit for bank deposits insured under the DICGC Act from Rs 1 lakh to Rs 5 lakh. After the fraud in Punjab and Maharashtra Cooperative Bank, bank customers started demanding to return their money, after which Finance Minister Nirmala Sitharaman took this step in the budget.
Information about all those accounts will be
collected within 45 days. The DICGC will check these accounts and then within the next 45 days, the process of handing over the amount up to Rs 5 lakh to the depositors will be completed.
