The decision assumes significance in the wake of a scam in the PMC Bank affecting lakhs of customers who are facing difficulties in withdrawing their money due to restrictions imposed by the Reserve Bank of India.
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
DEA officials to push for this at a meeting with FM Jaitley.
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
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