List Of Deposit Insurance And Credit Guarantee Corporation ifsc code and address of all bank branches in india Find Verified IFSC/MICR code .
Deposit Insurance And Credit Guarantee Corporation IFSC Code & Details:
Established on 15 July 1978, DICGC is an owned subsidiary of Reserve Bank of India. It was established with a vision to be actively responsive to the needs of its stakeholders and be recognised as one of the most efficient and effective deposit insurance providers. The main purpose behind setting up the Bank was to provide insurance of deposits and guaranteeing of credit facilities.
Up to a limit of Rs. 5,00,000 the Bank insures all bank deposits. These include:
- Savings, fixed, current, recurring deposits
- Deposits of Centre or State Governments
- Deposits of Foreign Governments
- Any amount due on account of and deposit received outside India
In case an individual holds more than one deposit account in one or more branches of a bank, then all these accounts are considered as held in the same capacity.
While registering any bank as an insured bank, the DICGC gives them printed leaflets for providing information related to the protection afforded by the Corporation to the depositors of the insured bank. However, this insurance provided to the banks can be cancelled if the insured bank fails to pay the premium for three consecutive half-year periods. If an individual has deposited with more than one bank, the deposit insurance coverage limit is applied separately to the deposits in each bank.
The DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION was established with a mission to secure public confidence in the banking system. It wanted to secure public confidence in the banking system through the provision of deposit insurance. The deposit insurance offered by the DICGC is like protection for deposit holders in case the bank fails and does not have money to pay its depositors. If a bank goes into liquidation, DICGC is liable to pay the claim amount of each depositor within two months.
State wise list of all Deposit Insurance And Credit Guarantee Corporation branches
The following are the states, where Deposit Insurance And Credit Guarantee Corporation has branch / branches. Select an individual state link to view list of districts, where this bank has branch / branches.