A Reserve Bank of India (RBI) panel on banking services to retail and small customers has recommended raising the deposit insurance cover five times from Rs. 1 lakh to Rs. 5 lakh. The committee was formed under the chairmanship of former Securities and Exchange Board of India, or Sebi, chairman M. Damodaran in June 2010 to look into banking services rendered to retail and small customers, including pensioners. Besides increasing the deposit insur ance cover, the committee also recommended the creation of a toll free common bank call number for customer redressal and also asked banks to provide plain savings account without mini mum balance.
Mint
No comments:
Post a Comment