Friday, 20 May, 2022
TopicBank deposits

Topic: bank deposits

Lok Sabha passes bill allowing depositors to get insurance money in 90 days

Finance Minister Nirmala Sitharaman said the legislation will benefit small depositors, including those of the Punjab and Maharashtra Cooperative Bank.

Depositors can now get insurance money in 90 days if their bank is placed under moratorium

The Union cabinet has cleared changes in a decision that will help depositors in banks that have been placed under a moratorium by the RBI.

In just 5 years, private banks have narrowed public sector’s huge lead in loans & deposits

Private banks’ market share in loans has risen to 36.04% in 2020 from 21.26% in 2015, while public sector banks’ share has gone to 59.8% from 74.28%.

Not ‘overworried’ about NPAs, no need for a blanket moratorium extension: SBI chairman

SBI chairman Rajnish Kumar said the extension of the loan moratorium may be needed only for certain specific stressed sectors.

Depositors of failed banks will get only upto Rs 1 lakh insurance cover: RBI subsidiary

Deposit Insurance and Credit Guarantee Corporation (DICGC)'s response comes in the wake of the PMC Bank crisis and other bank frauds that have put people's savings at risk.

Modi govt plans to amend law to increase insurance cover for bank deposits from Rs 1 lakh

Finance Minister Nirmala Sitharaman says the govt will table the amendments in winter session of Parliament.

On Camera

YourTurn

PT Pertamina Balongan refinery in Indramayu, Indonesia | Representational image | Bloomberg

Asian refiners to ramp up gasoline exports to US as sky-high prices beckon

In Asia, gasoline margins have doubled to more than $33 a barrel since the end of March and have edged above those for diesel, which have eased from a peak in early May.

Defence

File photo of a defence personnel armed with a SiG 716 rifle near the Line of Control | Photo: Snehesh Alex Philip | ThePrint

India to ink ‘repeat order’ deal for 73,000 SiG 716 rifles from the US

In February 2019, 72,400 SiG 716 rifles of 7.62 x 51mm calibre were contracted from SIG Sauer Inc, USA, under government's 'Buy (Global) category', through fast track procedure.

How Congress is like the Ambassador & why Indian politics needs a brand new set of wheels

Like the car, nothing the party has done to reinvent itself has worked. Only way forward is to offer something looking towards the future, not in image of glorious past.
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