RBI Central Board approves risk

The Central Board of Directors of the Reserve Bank of India (RBI) approved a risk-based deposit insurance framework for banks at its 620th meeting, held in Hyderabad yesterday. The approval follows the Central Bank’s statement in October, in which it proposed a risk-based premium model. A detailed notification will be issued shortly, and the framework will be effective from the next financial year. The Board also discussed the global and domestic economic situation and associated challenges, and the draft Report on Trend and Progress of Banking in India, 2024-25.