USA HISTORY

Detailed explanation-1: -The corporation is authorized to insure bank deposits in eligible banks up to a specified maximum amount that has been adjusted through the years. Having begun in 1934 with deposit insurance of $5, 000 per account, in 1980 the FDIC raised that amount to $100, 000 for each deposit.

Detailed explanation-2: -The FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex financial institutions resolvable; and manages receiverships.

Detailed explanation-3: -A: Deposit products include checking accounts, savings accounts, CDs and MMDAs and are insured by the FDIC. The amount of FDIC insurance coverage you may be entitled to, depends on the ownership category. This generally means the manner in which you hold your funds.

Detailed explanation-4: -COVERAGE LIMITS The standard insurance amount is $250, 000 per depositor, per insured bank, for each account ownership category. The FDIC provides separate coverage for deposits held in different account ownership categories.

Detailed explanation-5: -Each depositor in a bank is insured upto a maximum of ₹ 5, 00, 000 (Rupees Five Lakhs) for both principal and interest amount held by him in the same right and same capacity as on the date of liquidation/cancellation of bank’s licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force.