If you see, in today's time almost everyone has their bank account. Even children now have their bank accounts in a household apart from their parents. People keep their hard-earned money in these bank accounts and the bank pays interest on this deposited money. On the other hand, when money is deposited in the bank, people remain worry-free. But do you know what will happen to your money if the bank ever goes bankrupt or closes down for some reason? how much money will you get all these questions can come to your mind at that time. So let's know how much money the account holder gets from the amount deposited in his account when the bank sinks. You can learn about this in the next slides...
Due to bank collapse or bankruptcy
The most important situation in which the bank becomes insolvent is the non-recovery of the loan. When a bank gives loans to people, and if that loan goes on increasing and the money does not come back, then the bank goes into loss and the situation may even come to the closure of the bank.
How much money if the bank collapses?
If the bank in which you have an account, for some reason closes or sinks, then in this situation you get only Rs 5 lakh under the rules. Even if you have more amount deposited in your bank account.
The government saves banks from drowning
By the way, you should not have to worry if there is a government, because the government saves the sinking banks. She merges that bank with another bank so that people's hard-earned money is saved from drowning.
RBI also keeps an eye
There is no doubt that RBI keeps a close watch on the loans and transactions of every bank. In such a situation, even before any bank sinks, he secures the earnings of the common people by taking a tough decision. Apart from this, if the bank is about to sink, then DICGC takes the responsibility of giving people their money. At the same time, in return, it takes a premium from the banks.
(PC: IStock)
