GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What does the acronym DICGC mean?
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District Industries Centre and Government College
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Department of Insurance in Central Govt. Company
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Deposit Insurance and Credit Guarantee Corporation
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Deputy Inspector & Commissioner General for Commodities Trading
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Explanation:
Detailed explanation-1: -The DICGC insures principal and interest upto a maximum amount of five lakhs. For example, if an individual had an account with a principal amount of 4, 95, 000 plus accrued interest of 4, 000, the total amount insured by the DICGC would be 4, 99, 000.
Detailed explanation-2: -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.
There is 1 question to complete.