BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Deposit insurance facility provided by the DICGC is not available for which of the following
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LIC
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GIC
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SIDBI
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NBFCs
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Explanation:
Detailed explanation-1: -At present all co-operative banks are covered by the DICGC. Primary cooperative societies are not insured by the DICGC.
Detailed explanation-2: -At present all co-operative banks are covered by the DICGC. However, deposits in primary cooperative societies are not insured by the DICGC. Moreover, deposits in any NBFC or HFC or corporate entity do not enjoy this insurance cover.
Detailed explanation-3: -The deposits with NBFCs are not insured. The repayment of deposits by NBFCs is not guaranteed by RBI.
Detailed explanation-4: -The DICGC insures principal and interest upto a maximum amount of five lakhs.
There is 1 question to complete.