DICGC

AcronymDefinition
DICGCDeposit Insurance and Credit Guarantee Corporation (India)
References in periodicals archive ?
Till now the claims from DICGC is very few and mostly, such claims have raised only due to failure of a few cooperative banks.
The cover is offered by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India, or RBI.
At present, all banks pay INR0.10 for every INR100 of deposits towards insurance to the Deposit Insurance and Credit Guarantee Corporation (DICGC).
At present, only the Deposit Insurance and Credit Guarantee Corporation (DICGC) offers insurance for bank deposits.
The Deposit Insurance and Credit Guarantee Corporation (DICGC) would charge higher premiums from banks for insuring risky loans.
In line with the standard terms and conditions of liquidation, all depositors are eligible for refunds of his/ her deposits with a monetary limit of Rs 1,00,000 from the Deposit Insurance and Credit Guarantee Corporation (DICGC), disclosed the statement.
As many as 13 cooperative banks failed in 2012-13, and credit insurance company DICGC had to pay nearly INR1.6bn to depositors for failed banks.
1 lakh from the deposit insurance and credit guarantee corporation (DICGC) and these banks are then liquidated .
It is believed that about 67 percent of the total deposits do not have cover from the Deposit Insurance and Credit Guarantee Corporation (DICGC) as of September 2011.