The article addresses concerns about the safety of money in banks during a financial emergency or bank failure. Under Article 360, the government can impose withdrawal limits but doesn't necessarily freeze accounts. In case of a bank collapse, the Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance cover up to 5 lakh rupees per depositor. This limit covers savings, FDs, and RDs. To mitigate risk, it is advised to spread deposits across different banks instead of keeping all funds in a single institution.
https://khalastv.com/will-your-money-in-banks-be-frozen-answers-to-2-important-questions/
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