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China gears up to launch deposit insurance policy

India Infoline News Service | Mumbai |

The People’s Bank of China’s financial stability report said that China is ready in various aspects to launch a deposit insurance system

China is all set to launch a long-pending deposit insurance system after a consensus has been reached within the government, according to a media report.

The People’s Bank of China’s financial stability report said that China is ready in various aspects to launch a deposit insurance system.

The central bank had published a summary of the financial stability report in May. It is expected to issue the full report on its website sometime in the coming months.

A deposit insurance policy is a measure to protect depositors from losses caused by a bank's inability to pay back deposits when they come due.


 

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