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RBI new rules: Everyone wants their bank account to be full of money, but very few people know that this money is not going to be of any use to you if the bank collapses, that is, a lot of money will be lost along with the bank (bank bankrupt rules).

In this regard, it is better to keep money in the account up to a fixed limit. RBI (Reserve Bank of India) and the government have also made rules regarding how much money the customer will get back if the bank collapses. Every account holder needs to know about these rules.

The rule for getting back the deposited amount

A fixed amount is given by RBI's Deposit Insurance and Credit Guarantee Corporation in case of bank collapse.

Rules apply to all the banks of the country that they will return Rs 5 lakh to the customer in case of collapse. If there is less amount deposited in the account, then the entire amount is received according to this rule (cash deposit rules).

If the amount is more than 5 lakh, the rest of the customer's money is lost along with the bank. Let us also tell you that this rule of DICGC does not apply to cooperative societies.

Money will be received in this many days after the claim.

Only 5 lakh rupees of any customer is considered safe in case of bank collapse, that is, this amount is returned, which is received 90 days after making a claim (bank deposit insurance claim). In case of a bank collapse, FD (bank FD rules) and savings account (bank account news) in the bank are added together. If this amount is less than five lakh rupees, then the entire amount will be returned, but if the amount is more than 5 lakh, then the customer will get only 5 lakh rupees.

If there are many accounts in the same bank, then this is the rule.

If a customer has many accounts in a single bank (bank news), then in case of a bank collapse, all are considered the same. If the amount deposited in all the accounts is more than 5 lakh, then only 5 lakh rupees (RBI insurance on bank bankrupt) are returned in case of bank collapse. If less amount is deposited, less will be received. According to the rule, bank FD is also included in this.

Rules for having accounts in two banks

If you have accounts in two banks (bank deposit insurance), then it can be beneficial for you, because the chances of two banks collapsing at the same time are negligible. Even if this happens, you can get this guarantee (cash deposit guarantee) amount from both banks.

Keep in mind that if you have deposited more than 5 lakhs, then you will get 5 lakhs back if the bank collapses, if you have deposited less amount (cash deposit rules), then you will get less amount. Earlier this deposit insurance cover amount was 1 lakh rupees, which was later increased to 5 lakh rupees.

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