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Prime Minister Narendra Modi on Sunday said that the move to increase deposit insurance cover to Rs 5 lakhs from Rs1 lakh, will fully insure Rs 76 lakh crore of savings. “Such a comprehensive insurance cover is not there even in developed nations,” Mr. Modi said adding that, “This will cover almost 98% of all banking accounts.”
Prime Minister Narendra Modi on Sunday said that the move to increase deposit insurance cover to Rs 5 lakhs from Rs1 lakh, will fully insure Rs 76 lakh crore of savings. “Such a comprehensive insurance cover is not there even in developed nations,” Mr. Modi said adding that, “This will cover almost 98% of all banking accounts.”
