Deposit insurance hike: RBI says not to hit banks balance-sheets

Following the failure of a number of cooperative banks, with the city-based PMC Bank being the latest and the largest last year, the budget allowed the Deposit Insurance and Credit Guarantee Corporation (DICGC) to raise deposit insurance coverage to Rs 5 lakh from Rs 1 lakh.

from Banking/Finance-Industry-Economic Times https://ift.tt/2GZ8KSZ