Account holders of distressed banks will be entitled to get back the amount up to Rs 5 lakh from November 30

Account holders of distressed banks like Punjab and Maharashtra Co-operative Bank will be entitled to get back up to Rs 5 lakh from November 30 this year. The government has notified the rules in this regard.

This amount will be provided by the Deposit Insurance and Credit Guarantee Corporation. As per the gazette notification dated August 27, 2021, these provisions have come into force from today.