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What is DICGC and How does It work?
The Reserve Bank of India's subsidiary, the Deposit Insurance and Credit Guarantee Corporation (DICGC), is a completely owned company (RBI). It offers deposit insurance, which serves as a safety net for bank depositors in the event that the bank is unable ...
Cabinet Passes Bill To Protect Depositors' Interest
The Union Cabinet today (July 28) has passed the Deposit Insurance and Credit Guarantee Corporation Bill, Finance Minister Nirmala Sitharaman said. After the cabinet meet, Finance Minister in an address to the media said that the bill thus augments the insurance ...
Top 5 Banks Currently Promising Higher Returns On FDs
A fixed deposit (FD) is an investment instrument offered by banks or non-banking financial companies (NBFCs) that pays a higher interest rate than a standard savings account upon maturity. Unlike market-based instruments which may lose your capital due to market fluctuations, ...
RBI Cancels Licence Of Shivam Sahakari Bank
On Friday, the RBI said the licence of Maharashtra's Shivam Sahakari Bank has been revoked as the bank does not have earning prospects besides adequate capital. "Consequently, the bank ceases to carry on banking business, with effect from the close of ...
FRDI Bill Withdrawn: What This Means For Bank Depositors?
The Financial Resolution and Deposit Insurance (FRDI) Bill has been withdrawn from the Lok Sabha and this has come as a delight to account holders and depositors in bank. Here's provided the reason for it in detail: First a brief ...
What is deposit insurance?
Deposit insurance is the cover against any kind of risk for the depositors' deposits held by the different banks in various forms such as term deposits, recurring or saving deposits. In India, as many as 2,199 banks are insured ...
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