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With reference to the artcle “A case for higher deposit insurance” (Business Line, October 17), the suggestion to increase insurance coverage for deposits with commercial banks and urban co-operative banks from the existing Rs 1 lakh to Rs 5 lakh is commendable and designed to ensure increased confidence of depositors in the banks.

This will help the banks mobilise more deposits, thereby contributing to increased liquidity.

It calls for immediate action on the part of the Reserve Bank of India in this direction.

B. Premananda Bhat Manipal

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