How much money will be received if the bank collapses, these rules will be applicable for all banks

New Delhi : There are more than 97619 banks in India. Of these, more than 96000 banks are rural cooperative banks and 1485 banks are banks present in urban areas. Apart from this, there are a total of 12 public banks, 22 private banks, 44 foreign banks and 56 regional rural banks in the country. However, most of the people of the country prefer to keep their deposits in big banks like government banks. If we talk about the largest bank of the country, then this bank is HDFC Bank, followed by ICICI Bank at second place and SBI Bank at third place.

Most of the people of the country open accounts and deposit fixed deposits in big banks only. If we look at the number of big banks in the country, there are more than 80 banks in the country. Whereas the total number of banks in the country is 96000. In such a situation, the question often comes in your mind that which bank, small or big, would be right to deposit money in?

fear of bank bankruptcy

In today's time, everyone has their own bank account. People keep their hard-earned money in these bank accounts and get interest on the money deposited in the bank. When money is deposited in big banks, people live without any tension. But can you imagine what happens to this money if any bank goes bankrupt or closes down? Will you get your money back in such a situation or not? Do you know what the laws are regarding this situation?

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Let us tell you when any bank becomes bankrupt?

In simple language, it is understood that when the liabilities of the bank exceed the assets of the bank and the bank is not able to deal with this problem, then the bank is declared bankrupt. In other words, when a bank's earnings become much less than its expenses and the bank continues to suffer losses and fails to deal with the economic crisis, then such a bank is declared bankrupt. May go. The bank regulator can take a decision to close such a bank. In all the situations in which a bank goes bankrupt, the most important situation is non-repayment of the loan.

How much money will you get if the bank sinks?

If any bank in which you have an account is closed or goes bankrupt, then under the rules, you can be returned only a maximum of Rs 5 lakh, even if you have deposited more than this amount in this bank. Why haven't you deposited more money? Be it a government bank or a private bank, the process of all banks is almost the same.

This amount is returned in 90 days

Deposit insurance system includes all types of deposits including savings account, current account, recurring account, in which insurance cover is given on the amount deposited. The most important thing is that under this rule, if any bank goes bankrupt, the account holders get the money back under insurance within 90 days. Under the rule, the distressed bank is handed over to the Insurance Corporation within the first 45 days. This process is completed within 90 days without waiting for resolution.

How much money can I get?

If you are also wondering that if the bank in which you have kept your money sinks, then how much money will you get? We are going to tell you the answer to this. However, no matter how much money you have deposited in the bank, when such a situation arises, the bank gives you only Rs 5 lakh. But if you have deposited money in different branches of this bank, then how much money will you get? Even if you have opened an account in different branches of the same bank, it is still considered the same. The amount deposited in all these accounts will be calculated, if taken together this amount is less than Rs 5 lakh, then you will get the same amount of money deposited. Also, if the amount deposited in all your accounts together is more than Rs 5 lakh, then you will get only Rs 5 lakh as compensation.