Whether money on ppf account is insured?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2016
Dear all,
As we know the money in the bank account (Savings a/c, Fixed a/c) is insured by DICGC (Deposit Insurance and Credit Guarantee Corporation).
My question is: Whether or not PPF account money is insured by DICGC or any other entity/government?
Thanks.
As we know the money in the bank account (Savings a/c, Fixed a/c) is insured by DICGC (Deposit Insurance and Credit Guarantee Corporation).
My question is: Whether or not PPF account money is insured by DICGC or any other entity/government?
Thanks.
Amol S Joglekar
(Expert)
29 July 2016
No, it is not insured.
It is Govt of India which runs the scheme through its LIMBS as nationalised banks.....So insurance NOT required. It is GOvt of India guaranteed money
It is Govt of India which runs the scheme through its LIMBS as nationalised banks.....So insurance NOT required. It is GOvt of India guaranteed money
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