DPC raises guarantee for depositors to Rs1m

MG News | October 01, 2024 at 06:43 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

October 01, 2024 (MLN): The Deposit Protection Corporation (DPC) has increased the guarantee amount for all eligible depositors of its member banks from Rs500,000 to Rs1,000,000 with effect from October 01, 2024, as decided by the Board of Directors of the Corporation.

This enhanced guarantee amount now provides full protection to around 96 % of the eligible depositors. The main objective of the deposit protection scheme is to safeguard the depositors’ interest and further enhance their confidence in the banking sector. This will also support financial stability in the country.

Deposit protection facility is applicable to all the eligible depositors and does not require any fee from the depositors. The guarantee amount or protected deposit becomes payable to eligible depositors only if State Bank of Pakistan declares a bank as a failed bank and is not payable under any other circumstances.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,021.20 228.53M	-0.42% -718.25
ALLSHR	103,836.39 572.65M	-0.41% -422.85
KSE30	50,951.99 89.47M	-0.52% -264.77
KMI30	240,633.87 93.99M	-0.31% -756.80
KMIALLSHR	66,572.75 300.61M	-0.28% -185.59
BKTi	48,673.23 31.18M	-0.70% -343.86
OGTi	33,702.25 6.35M	-0.61% -205.57

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,495.00	64,550.00 63,875.00	280.00 0.44%
BRENT CRUDE	98.70	101.19 95.13	-1.99 -1.98%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-1.55 -1.44%
ROTTERDAM COAL MONTHLY	121.10	121.10 121.10	0.70 0.58%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	90.47	92.83 87.68	-1.72 -1.87%
SUGAR #11 WORLD	14.76	14.79 14.54	0.07 0.48%