Question
Assume that Mr. Prasanna and his family members have fixed deposits with a bank as follows : Name(s) of Depositor(s) Deposit Amount Prasanna Rs. 7,00,000
Assume that Mr. Prasanna and his family members have fixed deposits with a bank as follows :
Name(s) of Depositor(s)
Deposit Amount
Prasanna
Rs. 7,00,000
Prasanna & Mrs. Ramanathan
Rs. 5,00,000
Prasanna & his daughter
Rs. 6,00,000
Prasanna
Rs. 2,00,000
If the bank fails, how much will Mr. Prasanna and his family members receive from deposit insurance? Explain with reasons.
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Foundations of Finance The Logic and Practice of Financial Management
Authors: Arthur J. Keown, John D. Martin, J. William Petty
8th edition
132994879, 978-0132994873
