Russia Duma Committee Backs Higher Deposit Insurance Limits for Long-Term Ruble Deposits

The Russian State Duma's financial market committee recommended passing a bill that raises insurance compensation for long-term ruble deposits and non-revocable savings certificates to 2 million rubles, and for escrow accounts to 30 million rubles. This is a legislative step to bolster confidence in the banking system and encourage longer-term savings, likely in response to high interest rates and economic uncertainty. The bill's passage is not yet final, but committee support signals likely adoption.