MDIC: Php500,000.00 (R.A. 9576: 01June2009)

01 June 2009. Republic Act 9576,

AN ACT INCREASING THE MAXIMUM DEPOSIT INSURANCE COVERAGE, AND IN CONNECTION THEREWITH, TO STRENGTHEN THE REGULATORY AND ADMINISTRATIVE AUTHORITY, AND FINANCIAL CAPABILITY OF THE PHILIPPINE DEPOSIT INSURANCE CORPORATION (PDIC), AMENDING FOR THIS PURPOSE REPUBLIC ACT NUMBERED THREE THOUSAND FIVE HUNDRED NINETY-ONE, AS AMENDED, OTHERWISE KNOWN AS THE PDIC CHARTER, AND FOR OTHER PURPOSES

It’s in the law. Effective 01 June 2009, the maximum deposit insurance coverage (MDIC) for bank deposits has been increased to Php500,000.00.

The law,also, specifies those deposits which are not covered and will be denied payment, such as: deposits that are determined to be the proceeds of an unlawful activity as defined under Republic Act No. 9160; Deposit accounts or transactions which are unfunded, or that are fictitious or fraudulent; and others.

The law also notes against ”splitting of accounts” and unsound bank practices.

So, we now have this amending law.  But the thing is, it’s the unsound bank practices that really cause all the headaches and pocketaches of the people (remember the number of unsolved anomalous bank closure cases). 

Banking is mainly a trust relationship between the bank and the depositor looking forward to safekeeping and interest earnings.  It’s the scrupulous leeches that eat the trust away … i look forward to another amending law sharpening the teeth and lengthening the arms of the existing laws against these unwanted leeches! … In the meantime, let’s watch our own.

RA9576 Link: http://www.pdic.gov.ph/index.php?nid1=10&nid2=6

Dengue and A(H1N1) Virus

Per DOH 7, there is still no community transmission of the A(H1N1) virus in Cebu … BUT a recorded 299 dengue cases, with 8 deaths, from Jan1 to May23 (50% less than last year’s).

The mayor has spoken … he will do what he has to do for public safety and save lives, even to the point of closing public eateries (as what Mexico did) ”should” there be an alarming spread of the A(H1N1) virus.  People’s safety and peoples lives are primodial. 

The virus spreads quickly through “contact” with the infected or carrier or through hand-to-mouth contamination.  Food we eat is the most common conduit to being infected.

So far, it’s still DENGUE that is ravaging for so long.  It’s with the “dengue-infected-mosquitoes”! LAMOK! …. We really need to clean up and eradicate the breeding grounds … FAST … stagnant water …. piles of wastes … empty cans (including “sardines’ “), old tires, plastic containers and bottles.  Aquariums (especially those without fish and bubblers/airpumps …. yes, i’ve seen houses keeping a watered-aquarium with ultraviolet light in faux coral reef background) …. even a “small” amount of water in dark areas could be a perfect breeding ground for mosquitos.

Sounds easy to do … but … mosquitoes just breed fast and too many … the thing is, one’s house may be CLEANED UP, but if the neighbors place are NOT …. then … the wing of death just keep on breeding again …. So, it’s a routine clean up and ALL must follow …. it’s better to keep that DENGUE number (299 cases, EIGHT  are DEAD) … That wing of death might end up roving and flying around our ears and legs to share it’s deadly potion … DENGUE is just one … MALARIA is another …. and more …..   

DENGUE is ravaging, A(H1N1) is on the back up ….It’s up to us to do our thing …. BE SAFE!

Per DOH7, Brgy.Camputhaw currently tops the book on Dengue cases.