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    • ₹5 lakh

      • The DICGC provides insurance coverage up to ₹5 lakh per depositor per bank across all existing accounts. This is inclusive of principal and interest amounts. For instance, if the individual had ₹2.5 lakh in their bank account at the time of the bank’s liquidation, the DICGC will pay the ₹ 2.5 lakhs only.
      www.indusind.com/iblogs/savings-account/dicgc-deposit-insurance-and-credit-guarantee-corporation/

      DICGC - Deposit Insurance And Credit Guarantee Corporation

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  3. www.dicgc.org.in › FD_A-GuideToDepositInsuranceFor Depositors - A Guide to Deposit Insurance - DICGC

    Who pays the cost of deposits insurance? When is the DICGC liable to pay? Does the the DICGC directly deal with the depositors of failed banks? Can any insured bank withdraw from the the DICGC coverage? Can the DICGC withdraw deposit insurance coverage from any bank?

  4. www.dicgc.org.in › pdf › 2023Your deposits are insured by Deposit Insurance - DICGC

    Payment Banks, Regional Rural Banks and cooperative banks viz. State Cooperative Banks, District Central Cooperative Banks and Urban Cooperative Banks, which are registered with DICGC are insured. Obtaining deposit insurance cover is mandatory for all banks licensed by RBI. Bank resolution is an activity that is carried out

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  6. www.dicgc.org.in › pdf › 2023Deposit - DICGC

    The DICGC insures all deposits with banks such as savings, fixed, current, recurring, etc. but does not include deposits received from a foreign Government, the Central Government, a State Government, another bank, any deposit received outside India or any amount specifically exempted by DICGC with the previous approval of Reserve Bank of India.

  7. economictimes.indiatimes.com › wealth › saveWhat is insured under deposit insurance if a bank fails, are ...

    Jun 17, 2022 · When a bank fails, the only respite a depositor has is the insurance cover offered by the Deposit Insurance and Credit Guarantee Corporation (DICGC). The insurance cover under DICGC was raised to Rs 5 lakh from Rs 1 lakh, effective from February 4, 2020.

  8. en.wikipedia.org › wiki › Deposit_Insurance_andDeposit Insurance and Credit Guarantee Corporation - Wikipedia

    Presently the banks have to pay a sum to the DICGC as insurance premium which insures all kinds of bank deposits up to a limit of ₹5,000,000. In case a stressed bank had to be liquidated, the depositors would be paid through DICGC.

  9. retirement.outlookindia.com › plan › financialHow Does RBI’s DICGC Secure Your Bank Deposits? All You Need ...

    3 days ago · The Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the Reserve Bank of India (RBI), provides insurance coverage of up to Rs 5 lakh per depositor per bank against bank savings and current accounts, fixed deposits, recurring deposits, etc., in case of a bank failure. The coverage includes the principal ...

  10. www.aubank.in › blogs › savings-account-insurance-aSavings Account Insurance: A Guide to Deposit Insurance by DICGC

    DICGC provides insurance coverage for deposits held in all commercial banks, cooperative banks, and regional rural banks in India. The insurance covers various types of deposits, including savings accounts, fixed deposits, recurring deposits, and current accounts, up to a maximum limit. Insurance Coverage Limits.