From USA to UK… From Singapore to India, when a bank collapses, then your money remains so safe

Silicon Valley Bank and Signature Bank drowned in America, and now a global bank like Credit Suisse is also facing cash crisis. But do you know that even after the bank collapses, your money remains safe up to a limit. Know in which country how much is the security on deposit…

In all countries from America to Britain, Singapore, Malaysia and Australia, people get safety on deposits in such situations.

Image Credit source: Representative Photo

one by one in america Silicon Valley Bank And Signature Bank immersed. and now in switzerland Credit Suisse The cash crunch is in front of everyone. Imagine you have to face a similar situation. How much of your money will be safe then? In all countries from America to Britain, Singapore, Malaysia and Australia, people get safety on deposits in such situations.

Reserve Bank of India in India (RBI) Supervises all banks. In such a situation, even before any bank sinks, RBI tries to handle the situation by taking several steps. Despite this, if the bank sinks, then RBI’s ‘Deposit Insurance and Credit Guarantee Corporation’ (DICGC) The unit gives people a safety net on deposits up to a limit.

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Deposit up to Rs 5 lakh is safe in India

DICGC provides insurance cover to bank customers in India on their deposits. People get insurance cover on their deposits up to Rs.5 lakh. Generally, the customers of Indian banks keep only small deposits in the bank.

Due to this, in many cases of bank sinking, about 90 percent of the customers’ money remains safe. Then whether it is the case of PMC Bank or any other bank. Earlier this limit of deposit insurance in India was Rs 1.5 lakh.

Read this also: Can Credit Suisse Crisis increase India’s concern? Why did this question arise

The condition from America to Britain, Singapore

When the news of the sinking of banks came in America, the first Federal Deposit Insurance Corporation (FDIC) Activated. It gives safety on savings up to a limit to the customers of Silicon Valley Bank and Signature Bank. Know how much savings of people from America to other countries are safe…

  1. First thing about America, people in America get insurance safety on bank deposits of $ 2,50,000 (about Rs. 2,06,91,950).
  2. In Britain, bank customers get insurance cover on deposits up to 85,000 pounds (about Rs 84,73,070).
  3. In a large economy like Hong Kong, people get insurance protection on deposits up to 5,00,000 Hong Kong dollars (about Rs 52,73,075).
  4. Deposits of bank customers in Singapore up to 75,000 Singapore dollars (about Rs 46,07,260) are safe.
  5. The limit of bank deposit insurance in Malaysia is 2,50,000 ringgit (about Rs 46,28,930).
  6. In Australia, people are given insurance protection by the government on deposits up to 2,50,000 Australian dollars (about Rs. 1,37,42,500).
  7. In South Korea, the deposit insurance limit for bank customers is 50 million won (about Rs 31,54,735).
  8. Japan gives insurance protection to its citizens at a limit of up to 10 million Japanese yen (about Rs. 62,37,030).
  9. People in China get insurance cover on deposits up to 5,00,000 yuan (about Rs 60,02,420).