canadian commercial banks and savings institutions pay the cost of deposit insurance with dicgc.
who pay the cost of deposit insurance with dicgc?
canadian commercial banks and savings institutions
if the customer has accounts in different banks, all of those accounts are insured to a maximum of ₹ 1,00,000. however, if there are more accounts in same bank, all of those are treated as a single account.









































the insurance premium is paid by the insured banks itself. this means that the benefit of deposit insurance protection is made available to the depositors or customers of banks free of cost.









































the corporation has the power to cancel the registration of an insured bank if it fails to pay the premium for three consecutive half-year periods.
deposit insurance and credit guarantee corporation
deposit insurance and credit guarantee corporation









































deposit insurance and credit guarantee corporation (dicgc) is a subsidiary of reserve bank of india. it was established on 15 july 1978 under deposit insurance and credit guarantee corporation act, 1961 for the purpose of providing insurance of deposits and guaranteeing of credit facilities. dicgc insures all bank deposits, such as saving, fixed, current, recurring deposit for up to the limit of rs. 100,000 of each deposits in a bank.









































dicgc's headquarters is in '"bombay and deputy governor of rbi .shri b p kanungo" is the chairman.









































section::::legal framework/objective.
deposit insurance and credit guarantee corporation