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ensure your financial life is not disrupted when a bank fails is your bank safe?
your deposits up to rs lakh in each bank are insured by the deposit insurance and credit guarantee corporation. however, this cover is triggered only when the bank is put under liquidation or its license is cancelled. it is not applicable if the bank is temporarily placed under moratorium or suspended...
https://economictimes.indiatimes.com/wealth/save/when-a-bank-fails-and-your-account-is-frozen-heres-what-will-happen-to-your-deposits-loans/articleshow/74619793.cms