Deposit Protection Corporation (DPC), a subsidiary of the State Bank of Pakistan and established under the DPC Act 2016, has announced the formal launch of its website. Through this website, DPC has embarked upon a more depositor-centric and responsive public awareness programme. It aims to make it easier for users to learn and locate valuable information about roles and functions of DPC and its communiques including circulars and guidelines. The objective of DPC is to provide protection to depositors, especially small depositors in case of a bank failure. The corporation had earlier put in place appropriate mechanisms necessary to meet its objectives, says a statement. At present, DPC provides protection of up to Rs250,000 per depositor per bank to all eligible depositors.
Published in The Express Tribune, October 21st, 2020.
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