Question

Bank deposits are safe as they are insured by deposit insurance and credit guarantee corporation of india.What is the limit to this insurance?

Answer 1

Deposit Insurance and Credit Guarantee Corporation of India DICGCI was established in India in 1978 by Government of India through an act.

DICGCI Insures all deposits like term deposits, savings account, recurring deposit, current account upto a maximum limit of ₹ 100, 000.

Multiple accounts in one bank are treated as a single account. The premium for the insurance is paid by the bank on behalf of the depositors.

Answer 2

Explanation:

Deposit Insurance and Credit Guarantee Corporation (DICGC) is a wholly owned subsidiary of Reserve Bank of India. ... DICGC insures all bank deposits, such as saving, fixed, current, recurring deposit for up to the limit of Rs. 500,000 of each deposits in a bank.