State Duma approves boosting deposit reimbursement

Russia‘s State Duma has approved in its second reading a draft law on increasing the maximum deposit reimbursement limit for citizens to RUR 10 mio ($135.5K), Kommersant business daily reported.

The sum will be returned to a depositor by the state in case the bank’s insolvency. The current reimbursement limit amounts to RUR 1.4 mio ($19K). Until 2014, it was RUR 700,000, and back in 2006, it totaled only RUR 190,000.   

The initiative was proposed by a group of deputies headed by Anatoly Aksakov, Chairman of the State Duma Committee on Financial Market.  

According to Russian Minister of Finance Anton Siluanov, who had supported the draft law, the sum of RUR 10 mio will be reimbursed for citizens in ‘difficult life situations.’

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