BANKING GENERAL KNOWLEDGE
Question
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DICGC stands for
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Deposit Investment and Credit Guarantee Corporation
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Deposit Insurance and Credit Guarantee Corporation
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Deposit Insurance and Credit Guarantee Company
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Demand Insurance and Credit Guarantee Corporation
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Explanation:
Detailed explanation-1: -A Guide to the deposit insurance and credit guarantee corporation (DICGC)
Detailed explanation-2: -Deposit Insurance and Credit Guarantee Corporation (DICGC) is a wholly-owned subsidiary of the Reserve Bank of India (RBI). It provides deposit insurance that works as a protection cover for bank deposit holders when the bank fails to pay its depositors.
Detailed explanation-3: -The DICGC insures all deposits such as Savings, Fixed, Current, Recurring etc. Each depositor in a bank is insured up to a maximum of ₹ 5, 00, 000 (Rupees Five Lakhs) for both principal and interest amount held by him/her in the same right and capacity.
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