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PM to address depositors in a bank deposit insurance programme on 12th December

Published By : Admin | December 11, 2021 | 09:55 IST

Prime Minister Shri Narendra Modi will address the function on “Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to Rs. 5 Lakh” on 12th December, 2021 at 12 noon in Vigyan Bhawan.

Deposit insurance covers all deposits such as savings, fixed, current, recurring deposits, etc. in all commercial banks, functioning in India. Deposits in State, Central and Primary cooperative banks, functioning in States/Union Territories are also covered. In a path breaking reform, Bank deposit insurance cover was enhanced from Rs. 1 lakh to Rs. 5 lakh.

With deposit insurance coverage of Rs. 5 lakh per depositor per bank, the number of fully protected accounts at end of previous financial year constituted 98.1% of the total number of accounts, as against the international benchmark of 80%.

The first tranche of interim payments has been released by the Deposit Insurance and Credit Guarantee Corporation recently, against claims received from depositors of 16 Urban Cooperative Banks which are under restrictions by RBI. Payout of over Rs 1300 crore has been made to alternate bank accounts of over 1 lakh depositors against their claims.

Union Finance Minister, MoS Finance and RBI Governor will also be present on the occasion.

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Prime Minister shares a Sanskrit Subhashitam highlighting the true resolve of a representative
April 29, 2026

Prime Minister Shri Narendra Modi shared a Sanskrit Subhashitam today highlighting the true resolve of a representative.

The Prime Minister remarked that as vigilant citizens of the country, it is our duty to ensure record voting to make democracy even stronger.

The Prime Minister wrote on X:

"देश के एक सजग नागरिक के रूप में हमारा कर्तव्य है कि हम लोकतंत्र को और अधिक सशक्त बनाने के लिए रिकॉर्ड मतदान सुनिश्चित करें। इस तरह हम न केवल भारतवर्ष के नवनिर्माण में अपनी सक्रिय भागीदारी निभा सकते हैं, बल्कि एक समर्थ और समृद्ध राष्ट्र की नींव को और मजबूत कर सकते हैं।

राज्ञो हि व्रतमुत्थानं यज्ञः कार्यानुशासनम्।

दक्षिणा वृत्तिसाम्यं च दीक्षितस्याभिषेचनम्॥"

From the perspective of the welfare of the people, continuously uplifting them, faithfully performing duties as a sacred responsibility, ensuring fair judgment, giving generously, treating everyone with equality, and keeping oneself pure, disciplined and dedicated with a consecrated spirit, this is the true resolve of a representative.