Bank News: Only this much money of the customers is safe if the bank collapses, know what the rules and regulations say..

Bank Rules Updates: For the last several days, much news of bank sinking was coming out. In such a situation, if the bank in which you have deposited money (Deposit Insurance), that bank sinks, then according to the earlier rules, the customers used to get a maximum of one lakh rupees if the bank sinks, but after that after the change in the rules, this limit given to the customers was increased. Let us know through the news how much money the customers get when the bank sinks.

What is the limit of the insured amount -

In the General Budget 2021, a proposal was presented by Finance Minister Nirmala Sitharaman under the amendment to the Deposit Insurance and Credit Guarantee Corporation Act (DICGC). Later this law changed and earlier the limit of the insured amount was Rs 1 lakh, which was increased to Rs 5 lakh.

The limit of this amount given to the customers was increased after about 28 years. Actually, for your information, let us tell you that Deposit Insurance is a kind of scheme, under which only 5 lakh rupees of the customers are safe if the bank sinks.

These depositors will get relief due to the change in rules-

Now after the change in these rules, the depositors will not have to wait for the bank to go into the liquidation process nor will they have to wait to claim their deposit amount. Let us tell you that even if a bank is in a moratorium (Bank Moratorium kya hai), the depositor can claim his money under the DICGC Act.

In simple language, thousands of depositors of the banks which remain in moratorium for a long time will get relief.

Know the method of claiming the insured amount-

If a bank sinks or goes bankrupt, then under the provisions of Section 16 (1) of the DICGC Act, 1961, the payment is made to each depositor by the DICGC itself. Customers will get insurance up to Rs 5 lakh on their deposits.

If you have an account in multiple branches of the same bank, then after adding the deposit amount and interest in all the accounts, only deposits up to Rs 5 lakh will be considered safe. Customers will get back only up to Rs 5 lakh. This amount received by the customers includes both the principal and interest. Even after adding everything, only Rs 5 lakh of the customers remain safe.

Information is necessary before depositing money-

Whenever you are depositing money in a bank (bank rules updates), then before depositing money, you should know about many things. While registering any bank, DICGC gives them a printed form, which gives information about insurance to the depositors (money when the bank collapses).

If any depositor does not know about this, then he can go to the bank branch officer and take advice about it.

What is the rule in case of having two accounts-

As per the rules, when the insurance amount to be given to the customer is calculated by DICGC, then all the accounts of the same person in the same bank are taken into consideration. If the ownership of these funds is deposited in different banks (bank deposit limit), then the insurance amount will be different.

For example, we will explain it to you through an example. Suppose you have opened an account in two banks, then a maximum Rs 5 lakh each will be insured in both these accounts.

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