Says this amount is more than Rs 1300 crore
New Delhi, Dec. 12 (Delhi Crown): In the last few days, more than one lakh depositors have got their money back that was stuck for years. This amount is more than Rs 1300 crore, said Prime Minister Narendra Modi on Sunday.
Addressing a function on “Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to Rs. 5 Lakh” in New Delhi, Modi said – “Today’s new India strives for solving problems, today’s India does not avoid problems. “Understanding the concern of the poor, understanding the concern of the middle class, we increased guaranteed amount to Rs 5 lakh”
He further said – “Earlier there was no time limit for refund, now our government has made it mandatory to refund within 90 days. Banks play a major role in the prosperity of the country. And for the prosperity of the banks, it is equally important for the depositors’ money to be safe. If we want to save the bank, then depositors have to be protected”
According to the PM, when even the developed countries of the world were struggling to provide help to their citizens, India provided direct help to almost every section of the country very quickly.
“Of the crores of bank accounts opened under Jan Dhan Yojana, more than half belong to women,” added PM Modi. Union Finance Minister Nirmala Sitharaman, MoS Finance and RBI Governor were among those present on the occasion.
The Prime Minister also handed over cheques to some of the depositors on the occasion.