By The Nation
Without the Cabinet’s intervention, the DPA would have only provided Bt1 million insurance per bank account as of August 11 onwards. Under the Cabinet’s move, DPA will now provide Bt5 million insurance coverage until August 10, 2021.
The aim of this move is to restore confidence of depositors who may be worried about volatility in financial markets caused by the Covid-19 epidemic.
Songpol said the Bt5 million insurance covers 99.65 per cent of depositors in the banking system as of December 31, 2019.