Bank Crisis Of America: Two big banks have gone bankrupt in America in the last one week. Name of these banks There is Silicon Valley Crisis and Signature Bank. After the bankruptcy of two big banks of the world’s largest economy, people have remembered the economic recession of the year 2008. The effects of its banking crisis are visible all over the world.
What are the benefits of insurance for SVB customers?
Silicon Valley Bank, which gave loans to most startups and tech companies, went bankrupt on 10 March. After this, there was an atmosphere of panic among the customers and investors of the bank. But the Federal Deposit Insurance Corporation of America has tried to assure people that their money is safe in the bank.
According to the rules of FDIC of America, if any bank sinks in the country, then the investors get the benefit of insurance up to 2.5 lakh dollars i.e. about 2 crore rupees. And the amount more than this Meeting depends only on the intervention of the government.
Investors also get insurance cover in India
It is worth noting that in India also, bank customers get the benefit of insurance cover like America. Through this insurance cover, it is possible for the customers to get a fixed amount in case of bank failure or withdrawal of money.
Like America’s FDIC, this work is done by DICGC (The Deposit Insurance and Credit Guarantee Corporation) in India. According to its rules, in case of bank failure, customers can get a maximum amount of Rs 5 lakh.
Which banks offer DICGC insurance facility?
The customers of every commercial bank and cooperative banks in India get the benefit of insurance cover of DICGC. If you want to get information about your bank, then you can go to the bank and ask the officials about it.
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