Deposit Insurance and Credit Guarantee Corporation

Depositors of stressed banks to get up to Rs 5 lakh back from November 30

There have been numerous recent cases of lenders, especially cooperative banks, being unable to fulfil their obligations towards the depositors despite monitoring by the union government and RBI.

published on : 30th August 2021

Parliament passes Deposit Insurance and Credit Guarantee Corporation amendment bill

Finance Minister Nirmala Sitharaman, in her brief statement, said the legislation will benefit small depositors, including those of the Punjab and Maharashtra Cooperative Bank.

published on : 9th August 2021

Rule to protect depositors’ fund in banks gets Cabinet approval

“This will be the biggest relief we can offer those small depositors and nearly covering 98.3% depositors,” Sitharaman said in a press conference post the cabinet meeting.

published on : 29th July 2021

Deposit insurance corporation settles Rs 993 crore claims as six banks failed in FY21

The RBI annual report released recently says that five cooperative banks and one local area bank were liquidated in 2020-21.

published on : 31st May 2021