{"id":99650,"date":"2024-10-02T11:31:07","date_gmt":"2024-10-02T06:31:07","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=99650"},"modified":"2024-10-02T11:31:08","modified_gmt":"2024-10-02T06:31:08","slug":"dpc-increases-protection-limit-of-member-banks","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/dpc-increases-protection-limit-of-member-banks.html","title":{"rendered":"DPC increases protection limit of member banks to PKR 1 mn"},"content":{"rendered":"\n<p>Islamabad: The Deposit Protection Corporation (DPC) has officially raised the guarantee amount for eligible depositors in its member banks from PKR 500,000 to PKR 1,000,000, as reported on October 2.\u00a0<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/sbps-foreign-exchange-reserves.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP\u2019s Foreign Exchange Reserves increase by USD 24 mn in a week<\/a><\/p>\n\n\n\n<p>As per details, the decision was made by the Corporation&#8217;s Board of Directors and will take effect on October 1, 2024. According to a statement from the State Bank of Pakistan (SBP), this enhanced guarantee will provide full protection for approximately 96% of eligible depositors. The primary aim of the deposit protection scheme is to safeguard depositor interests and boost their confidence in the banking sector.<\/p>\n\n\n\n<p>The SBP highlighted that this initiative will also contribute to financial stability across the country. Notably, the deposit protection scheme applies to all eligible depositors without requiring any fees from them. The protected deposit will only be disbursed to eligible depositors if the State Bank declares a bank as failed, and it is not payable under any other circumstances.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Deposit Protection Corporation (DPC) has officially raised the guarantee amount for eligible depositors in its member banks from PKR 500,000 to PKR 1,000,000, as reported on October 2.\u00a0 Read: SBP\u2019s Foreign Exchange Reserves increase by USD 24 mn in a week As per details, the decision was made by the Corporation&#8217;s Board of Directors and will take effect on October 1, 2024. According to a statement from the State Bank of Pakistan (SBP), this enhanced guarantee will provide full protection for approximately 96% of eligible depositors. The primary aim of the deposit protection scheme is to safeguard depositor interests and boost their confidence in the banking sector. The SBP highlighted that this initiative will also contribute to financial stability across the country. Notably, the deposit protection scheme applies to all eligible depositors without requiring any fees from them. The protected deposit will only be disbursed to eligible depositors if the State Bank declares a bank as failed, and it is not payable under any other circumstances.<\/p>\n","protected":false},"author":89,"featured_media":76276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[59579,56222,52825,58585],"persona":[],"class_list":{"0":"post-99650","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-dpc-deposit-protection-corporation","9":"tag-news-and-updates","10":"tag-sbp-news","11":"tag-zameen-news-and-updates","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DPC Increases Protection Limit of Member Banks - Zameen News<\/title>\n<meta name=\"description\" content=\"DPC raises deposit protection limit to Rs1 million, ensuring increased security for eligible bank depositors from October 2024.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/dpc-increases-protection-limit-of-member-banks.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DPC Increases Protection Limit of Member Banks - Zameen News\" \/>\n<meta property=\"og:description\" content=\"DPC raises deposit protection limit to Rs1 million, ensuring increased security for eligible bank depositors from October 2024.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/dpc-increases-protection-limit-of-member-banks.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-02T06:31:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-02T06:31:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/SBP-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sabahat Abid\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sabahat Abid\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"DPC Increases Protection Limit of Member Banks - Zameen News","description":"DPC raises deposit protection limit to Rs1 million, ensuring increased security for eligible bank depositors from October 2024.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/dpc-increases-protection-limit-of-member-banks.html","og_locale":"en_US","og_type":"article","og_title":"DPC Increases Protection Limit of Member Banks - Zameen News","og_description":"DPC raises deposit protection limit to Rs1 million, ensuring increased security for eligible bank depositors from October 2024.","og_url":"https:\/\/www.zameen.com\/news\/dpc-increases-protection-limit-of-member-banks.html","og_site_name":"Pakistan Real Estate News &amp; 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