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    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.
    A Damodaran Committee Correct Answer Incorrect Answer
    B Raghuram Rajan Committee Correct Answer Incorrect Answer
    C Urjit Patel Committee Correct Answer Incorrect Answer
    D SN Srivastav Committee Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    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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