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RBI governor Shaktikanta Das has cautioned depositors to be mindful while chasing high returnsReserve Bank of India’s (RBI) governor Shaktikanta Das on Sunday advised depositors to be mindful while chasing high returns, saying that they always come with greater risk.Mr Das, while speaking at the “Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to Rs 5 lakh” programme, which was presided over by the prime minister, said that high returns are usually associated with high risks, so depositors should be discerning enough while chasing returns.He said that keeping banks robust and resilient has to be a joint effort and responsibility of management, boards and committees of banks.Highlighting RBI’s role in strengthening corporate governance guidelines of banks, the governor said that the central bank has been quite proactive towards achieving the aim.The aim is also to ensure that the banking system remains robust and resilient, he added.”The country has demonstrated of working together during this Covid pandemic. India’s moment has come where India can really become a gross driver of the world economy. That will be possible if all stakeholders in the banking sector work together,” he said.Mr Das further said that the country can become a “gross driver” of the world economy if all stakeholders in the banking sector work together.”Two significant milestones have been achieved recently in the banking system. After a gap of 27 years, we have increased the cap from Rs 1 lakh to Rs 5 lakh for these depositors. Rs 1 lakh was set in 1993. The second significant change was that within 90 days banks have to give guaranteed deposits,” he said in his address during the event.During the event, prime minister Narendra Modi handed over symbolic cheques to the depositors of the banks that failed to return their money, under the ”Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to Rs 5 Lakh” scheme.With deposit insurance coverage of Rs 5 lakh per depositor per bank, the number of fully protected accounts at end of the previous financial year constituted 98.1 per cent of the total number of accounts, as against the international benchmark of 80 per cent. 



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