BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Commercial Banks
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Local Area Banks
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Regional Rural Banks
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Primary Co-operative Societies
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Detailed explanation-1: -Note: Primary cooperative societies are not covered under DICGC. Q. Q. Which of the following banks are insured by the Deposit Insurance and Credit Guarantee Corporation?
Detailed explanation-2: -At present all co-operative banks are covered by the DICGC. Primary cooperative societies are not insured by the DICGC.
Detailed explanation-3: -On liquidation etc. of other de-registered banks i.e. banks which have been de-registered on other grounds such as non payment of premium or their ceasing to be eligible co-operative banks under section 2(gg) of the DICGC Act, 1961, the Corporation will have no liability.
Detailed explanation-4: -Which banks are insured by the DICGC? Commercial Banks : All commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC.
Detailed explanation-5: -Synopsis. As per the Economic Survey 2021-22 49.1% of the total deposits held with Indian banks are not covered by the deposit insurance cover available under the DICGC scheme.