what will happen to your money & FD, if your bank goes bankrupt?

what will happen to your money, if your bank goes bankrupt? (जिस बैंक में है आपका अकाउंट, वो बैंक डूब जाए तब क्या होगा आपके पैसों का? जानें). Know what will happen to your FD and other deposits when the bank is FAIL. If there is a big scam in the bank or if the bank becomes bankrupt then will the money be safe? After the Punjab National Bank (PNB Scam) scam, those who have accounts in the bank or whose money is deposited in the bank, there is only one thing in their mind, is our money safe in the bank? That is, even if there is such a big scam in the bank or if the bank ever becomes bankrupt, then will the money be safe? For this big question, we spoke to the President of the All India Bank Employees Association (AIBEA), JP Sharma.

what will happen to your money, if your bank goes bankrupt?

bankrupt bank India

The enhanced ceiling limit for Deposit Insurance Cover has come into effect from February 4.

We deposit our savings in banks to protect them. Millions of people in our country deposit their life’s hard-earned money as FDs in banks, so that they can meet their huge needs with this amount. People deposit money in banks, but somewhere in their minds, the question also remains that what will happen to their money if the bank fails? People’s concern has increased in this regard after the PMC bank case surfaced. Today we are going to tell you what will happen to your hard earned income if the bank fails.

Although most of the public sector and private sector banks have good economic condition, but still people are worried about their money. On February 1, Finance Minister Nirmala Sitharaman in her budget speech gave big relief to the account holders for this. In the Budget speech, the Finance Minister had announced to increase the insurance amount for depositors in the event of bank failure.

On receipt of the approval of the Government of India, the Reserve Bank of India has increased the amount of insurance cover per depositor to five lakhs, from the earlier one lakh rupees. Now, in case of bank failure, up to five lakh customer deposits will be insured and will be returned to the depositor.

This increased amount limit for insurance cover became effective from February 4. Explain here that this scheme of deposit insurance is offered by Deposit Insurance and Credit Guarantee Corporation. It is a wholly owned subsidiary of the Reserve Bank of India. The Deposit Insurance and Credit Guarantee Corporation does not directly charge any premium amount from the bank’s depositor for this insurance cover, but banks have to pay a premium for this insurance cover.

This insurance cover scheme covers all types of bank deposits such as savings, FD deposits, recurring deposits etc. The plan covers a total amount of up to five lakhs, including the principal and interest amount. This deposit guarantee is applicable only when the bank is closed. All the deposits shown by the depositor are made in all branches of a particular bank that fail under the scheme. That is, if a person has deposited money in different branches of a bank, then he will be paid up to a maximum of five lakh rupees under insurance cover if the bank fails. At the same time, the amount deposited in different banks will not be combined.

# Money in government bank always safe

There are both government and private banks in India. 63% of the people of the country have deposited their money in public or public sector banks (PSU banks). At the same time, only 18% of the people have deposited their money in the private bank. JP Sharma said that no such case has been brought out in which no bank has bankruptcies. At the same time, if anyone’s account is in the government bank then his money is completely secure. The government is responsible for the full responsibility of that money.

JP Sharma said that till now no private bank has been bankrupt, so money is also safe in these banks. However, if such a situation arises, then the bank is given the time of recovery on the short notice. With this, due to the new rules, the bank has to reserve the money so that he can return the money to the customer in the opposite position. Apart from this, if the position of the bank is fragile, then the Reserve Bank of India supports it.

# सरकारी बैंक में पैसा हमेशा सुरक्षित

भारत में सरकारी और प्राइवेट दोनों तरह के बैंक हैं। देश के 63% लोगों ने अपना पैसा सार्वजनिक या सरकारी बैंकों (PSU बैंकों) में जमा किया है। वहीं, सिर्फ 18% लोगों ने ही प्राइवेट बैंक में अपना पैसा जमा किया है। जेपी शर्मा ने बताया कि अब तक ऐसा कोई मामला सामने नहीं आया है जिसमें कोई बैंक दिवालिया हुई हो। वहीं, यदि किसी का अकाउंट सरकारी बैंक में है तब उसका पैसा पूरी तरह सुरक्षित है। उस पैसे की पूरी जिम्मेदारी सरकार की होती है।

जेपी शर्मा ने बताया कि अब तक कोई प्राइवेट बैंक भी नहीं डूबी है, ऐसे में पैसा इन बैंक में भी सुरक्षित रहता है। फिर भी यदि ऐसी स्थिति आ जाती है तब इसके लिए बैंक को शॉर्ट नोटिस पर रिकवरी का टाइम दिया जाता है। इसके साथ, नए नियमों के चलते बैंक को अपने पास इतना पैसा रिजर्व रखना होता है कि वो किसी विपरीत स्थिति में कस्टमर का पैसा लौटा सके। इसके अलावा, यदि बैंक कि स्थिति नाजुक होती है तब भारतीय रिजर्व बैंक उसे सपोर्ट करती है।

# Your money is insured

The bank also insures her for the safety of your money. For this, Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance cover. For this, the bank has to pay the premium by taking these insurance. Almost all government and private banks in India have taken this insurance. However, DICGC insures only one lakh rupees of any customer. That is, the amount of money you owe one lakh rupees in the bank is not its responsibility. Let us know that DICGC was created in 1961, after which no bank has ever heard of drowning or bankruptcies.

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