On Sunday Prime Minister Narendra Modii Addressed depositors at an event and announced Insurance of Guaranteed time-bound deposit up to Rs 5 lakhs. He also said that he formed this idea when he was the CM of Gujarat and at that time he approached the center many times to increase the amount up to up to 5 lakhs from Rs 1 lakh but the center didn’t accept his request.
He also focused on resolving the problems of the depositor, while addressing the gathering. Prime Minister also added that the Depositors of our country are the spirit behind the scene. In the last year, more than 1000 crore has been paid to 1 lakh depositors.
“Depositors faced hardship to get back their own money from banks under stress, poor, middle-class toiled for years. Now new India will focus on resolving problems, and will not delay resolution”; he added. No doubt problems were being faced by the depositors earlier to get back their own money from banks. Now at least it can this new idea can resolve problems at a faster pace.
According to his statement, more than 98% of bank account holders are covered under this deposit credit guarantee.
