Dicgc

Know what DICGC covers, how to gauge bank health, and when to diversify.

Bank failure in India: How DICGC protects your money

Deposit insurance offers a vital safety net when banks collapse, but the cover has strict limits you should know about.

Banking Central | India needs a much higher deposit insurance for its bank customers

The insurance framework should have a higher coverage threshold, a risk-based premium structure and a mechanism to ensure swift payouts in case of bank failures

Explainer: The DICGC as a safety net in the New India Co-operative bank crisis

The DICGC acts as a crucial safeguard in this scenario, ensuring that depositors of the New India Co-operative Bank are not left entirely out of pocket

Not only senior citizens, but all bank depositors have the right to full insurance cover

Rising bank failures, especially among the coop banks, have created a trust deficit among depositors. Increasing the insurance cover can help partly address the problem

RBI cancels licence of two co-operative banks

On liquidation, every depositor would be entitled to receive a deposit insurance claim amount of his/her deposits of up to Rs 5 lakh from DICGC.

Bank failures: Is there a case for higher deposit insurance cover in India?

Bank failures in US highlights the need for a higher deposit insurance cover to bridge the widening trust deficit of the customers, particularly in small banks.

Deposit Insurance and Credit Guarantee Corporation settles claims worth Rs 8,516.6 crore in FY22

All commercial banks, including branches of foreign banks functioning in India, local area banks, regional rural banks, small finance banks and payment banks, are covered under the Deposit Insurance Scheme.

RBI cancels Pune-based Seva Vikas Co-operative Bank’s licence

As per the data submitted by the bank, about 99 percent of the depositors are entitled to receive full amount of their deposits, said the RBI

MC Explains | DICGC to pay depositors of 17 cooperative banks, experts say it brings no relief

According to activists, a refund of a maximum of Rs 5 lakh won’t bring much relief to depositors

India’s cooperative mess | CKP Cooperative Bank depositors are fighting an uphill battle

Depositors of CKP Cooperative Bank grappled with the Covid lockdown, waded through medical emergencies and are struggling to get back their own money

Analysis | Why not all cooperative bank depositors are happy with the Rs 5 lakh insurance cover

For depositors in banks placed under curbs, the promise of accessing the money in their accounts in 90 days is a big relief. But the benefit is only for those with deposits of up to Rs 5 lakh

DICGC to pay depositors of 21 insured banks placed under all inclusive directions

DICGC Act was amended to increase the deposit insurance from earlier Rs 1 lakh to Rs 5 lakh.

Good News| Depositors of stressed banks, including PMC to get up to Rs 5 lakh back from November 30

The government has notified September 1, 2021 as the date on which the provisions of the Act shall come into force, according to a gazette notification dated August 27, 2021.

Why Rs 5 lakh DICGC cover isn't enough to bridge a widening trust deficit among depositors

According to the government, with the latest amendment to the DICGC Bill, the deposit insurance coverage in India has gone up to 98.3 percent and covered deposit value has risen to 50.9 percent against the comparative numbers globally—80 percent and 20-30 percent respectively.

Budget 2021: Will PMC Bank, others be able to get depositor’s insurance cover now?

Finance minister Nirmala Sitharaman announced that deposits in banks that went into liquidation can also now access the depositors’ insurance cover. Experts predict this proposal would be applicable retrospectively.

DICGC collected Rs 88,523 cr premium from banks, payout towards claim totalled Rs 296 cr

DICGC, a wholly-owned subsidiary of the Reserve Bank of India (RBI), provides insurance for bank deposits up to the limit fixed by the Corporation.

'No information' on raising Rs 1 lakh insured amount limit on bank deposits: DICGC

'The corporation does not have the requisite information,' DICGC said in response to an RTI query on whether there is any proposal or move under consideration to raise the limit of Rs 1 lakh insured in the bank.

Only up to Rs 1 lakh, not all money, insured in banks: RBI-owned subsidiary

This covers savings, fixed, current and recurring accounts, the DICGC, which insures all bank deposits, said in response to a Right to Information (RTI) query filed by PTI.

How deposit insurance agency safeguards bank deposits

With the last insurance limit revision dating back to 1993, there have been calls to revise the current limit while also taking the risk differential into consideration.

RBI revises portfolios to deputy governors

The Reserve Bank of India on Tuesday added some additional portfolios to its existing deputy governors. Apropos Dr Subir Gokarn's term as deputy governor having come to a close on December 31, 2012, the portfolios of deputy governors have been reallocated, the central bank said in a release.

Seeking a Unified Market Regulator

A government-appointed commission hopes to restructure India‘s financial regulatory architecture.

4 benefits of intelligent asset allocation

A combination of assets, i.e. a portfolio, is referred to as "efficient" if it has the best possible expected level of return for its level of risk (usually proxied by the standard deviation of the portfolio's return.