The Deposit Insurance and Credit Guarantee Corporation (DICGC) is a specialized subsidiary of the Reserve Bank of India, established on July 15, 1978 under the Deposit Insurance and Credit Guarantee Corporation Act, 1961 and headquartered in Mumbai, that insures deposits and guarantees credit facilities for India's banking system. It insures savings, fixed, current and recurring deposits held at participating banks up to 500,000 Indian rupees per depositor, with the insurance premium paid by the banks themselves rather than by depositors.
Facts
Geography
Country or Jurisdiction ServedWikidata Q17051676, property P17 (country). Founding YearSourced to the subject's own account Founding DateSourced to the subject's own account Classification
Institution SubtypeSourced to the subject's own account In the Other Atlases
- Also in Geography Atlas: India, located there.
Sources
1. Deposit Insurance and Credit Guarantee Corporation (Wikipedia)
Wikipedialead paragraph, sentence 2Quote, lead paragraph, sentence 2
It was established on 15 July 1978 under the Deposit Insurance and Credit Guarantee Corporation Act (1961) for the purpose of providing insurance of deposits and guaranteeing of credit facilities.
2. Wikidata
Wikimedia Foundation
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