NEW DELHI: The government has asked the Reserve Bank and Deposit Insurance and Credit Guarantee Corporation (DICGC) to adopt risk management system before doubling the insurance cover for bank deposits to Rs 2 lakh. The proposal of the DICGC for increasing the deposit insurance cover for banks from the existing Rs 1 lakh to Rs 2 lakh has been examined, Finance Minister Pranab Mukherjee said in the Rajya Sabha. "The government has advised the DICGC and the Reserve Bank of India to adopt a risk-based deposit insurance premium structure, before the proposal of the DICGC is considered for approval," he said...............
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