Question

The deposits kept at the bank are also insured by the government? Find out the details.

Answer 1

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⭐The deposit insurance scheme currently covers all banks, commercial, regional rural and co-operative banks.


The provision, which finds its origins in the European banking crisis of 2008-09, has raised a red flag after which the Centre hinted at reviewing the proposal.includes a special provision which by definition allows the affected banks to use depositors' money to absorb some of the losses.


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Answer 2

Answer:

Explanation:

yes, amount that we pay in bank in form of currency, cheque, and etc. is supervised by the government's reserve bank of India so that the promise made by the banks to honour withdrawals in cash or payments by cheques is always kept. the government has to ensure that people's trust in the money kept with in the banks in the form of demand deposits is always maintained and their money is always available for use and accepted by all.

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