5 lakhs within 90 days. Once a stressed bank is put on moratorium, DICGC will be liable to pay depositors

Chief executives of non-banking financial companies( NBFCs) have requested Reserve Bank of India( RBI) Governor Shaktikanta Das, during an interaction last month, to allow more such entities to accept public deposits.... The meeting was also attended by RBI Deputy Governors M Rajeshwar Rao and Swaminathan J, among others.... The RBI, as part of a deliberate policy, has been discouraging NBFCs from engaging in deposit mobilisation activities....