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Newslaundry
Newslaundry
National
NL Team

Sansad Watch Ep 5: A quick fix solution for bank scams

We have a bad loan problem. The government has been trying its best to recover money for depositors affected by scams like the PMC Bank scam. In its latest move, the government brought in a bill called the Deposit Insurance Credit Guarantee Corporation (Amendment) Bill, 2021. It was cleared in the monsoon session and is now an act.

So, what does this law do? How does it help depositors who lose money when a bank collapses and is put under moratorium? How does it secure your bank accounts?

Watch the episode to find out. We've also got a bonus segment profiling MPs, and we've picked a particularly nerdy one this time.

References

Brief on the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill, 2021

PRS Bill Track

Consti-tuition Season 1 and Season 2

Will PMC Bank depositors get their money?

Also Read: India is in a crisis. Why isn’t the parliament assembling online?

Newslaundry is a reader-supported, ad-free, independent news outlet based out of New Delhi. Support their journalism, here.

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