Dicgc cover incase of one joint account with multiple FD

Querist : Anonymous (Querist) 30 September 2019 This query is : Resolved
Sir,

If my bank fails, I hold a joint sb account with my wife. By we hold multiple fds...2L fds in my name and 1.10L worth fd in my wife's name. Kindly let me know if we will get 1L or 2L dicgc cover.

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Parthasarathi Loganathan (Expert) 30 September 2019
DICGC insures all bank deposits, such as saving, fixed, current, Recurring deposit for up to the limit of Rs. 1,00,000 of each deposits in a bank.

P. Venu

(Expert) 01 October 2019
The query suggests no real time issues.

Dr J C Vashista (Expert) 02 October 2019
Mr. Anonymous,
You have not posted any dispute/problem being faced, which is otherwise like an examination hall question paper.
Prima facie it is a time pass query.
However. it is advisable to seek professional services of a local prudent lawyer for proper appreciation of facts/documents, guidance and proceedings, if there is any dispute or problem.

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