GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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State Bank of India
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Reserve Bank of India
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Life Insurance Corporation of India
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Deposit Insurance and Credit Guarantee Corporation
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Detailed explanation-1: -What is DICGC? 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-2: -The Federal Deposit Insurance Corporation (FDIC) was established in 1933 to try to reduce the occurrence of bank runs.
Detailed explanation-3: -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-4: -The DICGC insures all deposits such as savings, fixed, current, recurring, etc. Deposits of foreign Governments; Deposits of Central/State Governments; Inter-bank deposits; Deposits of the State Land Development Banks with the State co-operative bank; Any amount due on account of and deposit received outside India. More items