Angara pushes for 100% increase in PDIC deposit insurance coverage
With more Filipinos now putting their money in banks, Senator Sonny Angara is looking to hike the deposit insurance coverage provided by the Philippine Deposit Insurance Corporation (PDIC) from the present P500,000 to P1 million per depositor.
Under Senate Bill 2089 filed by Angara, further amendments to the charter of the PDIC will be introduced in order to make it more responsive to the constantly changing financial landscape in the country.