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Eco/Invest/Demography

Government mulls raising insurance cover on bank deposits to above Rs 1 lakh: Nirmala Sitharaman

Media report suggests the bank deposit insurance in the country may be split into two categories, with retail cover being raised to Rs 5 lakh, from the current level of Rs 1 lakh; and a new scheme being introduced for wholesale depositors at Rs 25 lakh. When given effect, it will be the first upward revision in deposit insurance after 1993.

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