Question
______________ on ‘Customer Services in
Banks’ (2011) had recommended a five-time increase in the cap to Rs. 5 lakh due to rising income levels and increasing size of individual bank deposits.Solution
The Rs 5-lakh deposit insurance cover was raised from Rs 1 lakh in 2020. The Damodaran Committee on ‘Customer Services in Banks’ (2011) had recommended a five-time increase in the cap to Rs. 5 lakh due to rising income levels and increasing size of individual bank deposits.
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