Useful for you / What happens to your money if the bank with which you have an account closes? Know how much and how to get money back
Have you ever wondered what happens to your bank deposits if your bank ever collapses or closes down for some reason?
Know detailed information
What happens to the money deposited in a bank if it ever fails or closes?
In such a situation, an amount of 5 lakhs or below is considered safe in the bank
Nowadays everyone has a bank account and it has become a necessity, more and more people have their salary in the bank account and apart from this many people also save their money in the bank.
Many people keep their savings in banks.
Apart from this, banks not only provide money keeping but also many other facilities.
Many schemes offer good returns on investment, but have you ever thought that what happens to your money if your bank collapses or closes for some reason?
Today we are going to tell you about it.
What is the rule?
If you have an account in a bank and have deposited 5 lakh rupees in that account and suddenly the bank goes bankrupt, what will happen to your money?
Let us tell you that according to the rules, 5 lakh rupees is available in such a situation, that is, an amount of 5 lakh or below is considered safe in the bank.
Now after reading this you must have thought that if you have more than 5 lakhs deposited in the bank, will you have to suffer loss?
At that time, it is necessary to understand that the government is also taking steps to ensure that people's hard earned income does not deteriorate.
In such a situation, the government takes such a step that when any bank is going to fail, with the help of RBI, the government merges that bank with another big bank and by doing this, people are saved from sinking money.
Apart from this, when a bank is about to fail, DICGC Bank assumes the responsibility of paying the money of the account holders and collects the premium from the bank.
