Banks have traditionally enjoyed people’s trust, especially when it comes to safekeeping their money. However, the crisis in the Punjab and Maharashtra Cooperative (PMC) Bank not so long ago, where many depositors with higher fixed deposit (FD) amounts were unable to withdraw their deposits, has come as a shock to many investors. It also exposed the gross inadequacy of the deposit insurance cover of Rs 1 lakh given to each depositor in case of bank failure. This limit was introduced in 1993 and continued for almost 27 years. Budget 2020 has done damage control by raising the insurance cover to Rs 5 lakh, which came into effect on February 4. It could provide safety to a decent number of people, but may not be sufficient for those with a much higher amount of deposit in bank. We tell you how you can enjoy higher insurance cover on bank deposits.
INVESTING IN DIFFERENT RIGHTS AND CAPACITIES
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Denne historien er fra March 02, 2020-utgaven av India Today.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Killer Stress
Unhealthy work practices in Indian companies are taking a toll on employees, triggering health issues and sometimes even death
Shuttle Star
Ashwini Ponnappa was the only Indian to compete in the inaugural edition of BDMNTN-XL, a new international badminton tourney with a new format, held in Indonesia
There's No Planet B
All Living Things-Environmental Film Festival (ALT EFF) returns with 72 films to be screened across multiple locations from Nov. 22 to Dec. 8
AMPED UP AND UNPLUGGED
THE MAHINDRA INDEPENDENCE ROCK FESTIVAL PROMISES AN INTERESTING LINE-UP OF OLD AND NEW ACTS, CEMENTING ITS REPUTATION AS THE 'WOODSTOCK OF INDIA'
A Musical Marriage
Faezeh Jalali has returned to the Prithvi Theatre Festival with Runaway Brides, a hilarious musical about Indian weddings
THE PRICE OF FREEDOM
Nikhil Advani’s adaptation of Freedom at Midnight details our tumultuous transition to an independent nation
Family Saga
RAMONA SEN's The Lady on the Horse doesn't lose its pace while narrating the story of five generations of a family in Calcutta
THE ETERNAL MOTHER
Prayaag Akbar's new novel delves into the complexities of contemporary India
TURNING A NEW LEAF
Since the turn of the century, we have lost hundreds of thousands of trees. Many had stood for centuries, weathering storms, wars, droughts and famines.
INDIA'S BEATING GREEN HEART
Ramachandra Guha's new book-Speaking with Nature-is a chronicle of homegrown environmentalism that speaks to the world
