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Parliament passed the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill, 2021 ensuring that account holders get up to ________ within 90 days of the RBI imposing a moratorium on the banks.
Rs. 15 lakh
Rs. 10 lakh
Rs. 5 lakh
Rs. 2 lakh
Rs. 12 lakh
- The Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill, 2021 was passed by Parliament.
- This bill ensures that account holders will receive up to a specified amount within 90 days if the RBI imposes a moratorium on a bank.
- Rs. 5 lakh is the correct amount guaranteed for depositors under this amendment.
- This change aims to enhance depositor confidence and provide timely repayment.
- Previously, the insured amount was Rs. 1 lakh.
- By increasing it to Rs. 5 lakh, the coverage of deposits has significantly improved.
Answer: Option 3 - Rs. 5 lakh
By: Parvesh Mehta ProfileResourcesReport error
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