Islamabad: Deputy Governor State Bank of Pakistan (SBP) on Wednesday snatched people’s peace of mind as he apprised that only half million rupees of the consumers in the commercial banks of the country are protected.
The Deputy Governor was briefing senate’s standing committee on finance in which he apprised that if a commercial bank were defaulted then consumers will loss all the money except half million rupees.
2/2: Committee addresses issues from PEP difficulties in financial services to money laundering by solar panel importers. Chair directs FBR inquiry on 69 Billion Rupees laundering, emphasizes need for green banking, and probes Bank Al-Habib fraud. @FinMinistryPak @StateBank_Pak
— Senate of Pakistan (@SenatePakistan) October 4, 2023
He apprised that the deposit of only half million rupees in commercial banks have a legal protection.
