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Warren Buffett on Bank Crisis: Warren Buffett on Banking Crisis, included in the list of world’s legendary investors and billionaires, has spoken on the Banking Crisis that started in America. He said about the banking crisis that this is not the first time that a bank has sunk (US Bank Crisis). There may be more such banking crises in the future as well, but for this most people do not need to worry, because their money is safe with the Federal Deposit Insurance Corporation
Banking crisis not over
Warren Buffet said that this phase of banking crisis is not over yet, but for this most of the customers do not need to worry. The bank may collapse, but the money of most investors is safe with the Federal Deposit Insurance Corporation of America and they get this money when needed.
If the bank sinks in America, you get the benefit of insurance
According to the rules of FDIC of America, if any bank in the country sinks, then customers can get a claim of 2.5 lakh dollars i.e. about 2 crore rupees. The amount above this can be claimed only after the intervention of the government. On the other hand, if we talk about India, like America, here also the benefit of insurance cover is available on the money deposited in the bank. This cover is given by DICGC (The Deposit Insurance and Credit Guarantee Corporation) of RBI. If a bank sinks in India, then in such a situation, customers can get an amount of up to Rs 5 lakh through an insurance claim.
Significantly, two big banks of America, Silicon Valley Bank (Silicon Valley Crisis) and Signature Bank (Signature Bank) had gone bankrupt. After the sinking of these banks, people remembered the economic recession of 2008. After the sinking of the banks, its effect was visible on the banks all over the world.
Warren Buffet announces his successor
Expressing his confidence in the company, Berkshire Hathaway CEO Warren Buffett said that the company will continue to grow at a fast pace even after leaving his CEO post. Making Greg Abel, Vice Chairman of the company, his successor, he said that he will further lead the company on the path of progress and take forward his work model. The 92-year-old businessman said that he currently has no plans for retirement.
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