Depositors to get claim up to Rs 5 lakh from DICGC in 90 days of bank failure

Union Cabinet today (July 28, 2021) approved an amendment to the Deposit Insurance Credit Guarantee Corporation (DICGC) Bill to provide account holders access to up to Rs 5 lakh funds within 90 days of bank failure, Finance Minister Nirmala Sitharaman announced. Finance Minister Nirmala Sitharaman on Wednesday announced that the Union Cabinet cleared the amendment…