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DICGC ACT
RBI floating rate bond : Has 8.05% interest rate changed? Here's what investors should knowThe Reserve Bank of India has maintained the Floating Rate Savings Bond interest rate at 8.05% following the Finance Ministry's decision to...- RBI cancels licence of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit BankThe Reserve Bank of India has cancelled the banking license of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit Bank due to its de...
- RBI cancels licence of Maharashtra-based The Yashwant Co-op BankThe Reserve Bank of India has cancelled the license of The Yashwant Co-operative Bank, Phaltan, Maharashtra, citing inadequate capital and ...
- RBI cancels licence of Varanasi-based Banaras Merchantile Co-op BankRBI cancels Banaras Merchantile Co-operative Bank's license citing financial instability. Depositors to receive up to Rs 5 lakh from DICGC....
- DICGC settles claims worth Rs 8,516.6 crore in FY22Deposit Insurance and Credit Guarantee Corporation settled claims amounting to Rs 8,516.6 crore during 2021-22 of about 12.94 lakh deposito...
- RBI cancels Seva Vikas Co-operative Bank’s licence: What depositors should knowThe Reserve Bank of India (RBI) has revoked the licence of Pune-based Seva Vikas Co-operative Bank because the lender lacks appropriate cap...
- RBI cancels Laxmi Co-operative Bank’s licence: Will depositors get their full money back?The Reserve Bank of India (RBI) has canceled the banking licence of Solapur-based Laxmi Co-operative Bank. The bank will cease to provide b...
- This 110-year-old bank has stopped its operations: What happens to savings account deposits, FD, RDs of customersThe Rupee Cooperative Bank, which has its headquarters in Pune, had its banking license taken away by the Reserve Bank of India (RBI), whic...
- 99% of Laxmi Co-op Bank depositors to get full deposit claim on liquidation: RBIThe bank will cease to carry on banking business from the close of business on September 22, 2022. The bank will also be wound up and a liq...
- RBI cancels licence of Maharashtra-based Laxmi Co-operative Bank"The continuance of the bank is prejudicial to the interests of its depositors. The bank with its present financial position would be unabl...
- RBI cancels banking licence of Rupee Co-operative Bank“Consequent to the cancellation of its licence, “Rupee Co-operative Bank Ltd, Pune” stands prohibited from conducting the business of ‘bank...
- Depositors of Lucknow cooperative bank to get money from DICGC on April 27Depositors of Beed-based Dwarakadas Mantri Nagari Sahakari Bank will get payments on June 6. DICGC, a wholly-owned subsidiary of the RBI, p...
- Depositors of 21 failed cooperative banks including PMC to get deposit insurance coverBanks have been asked to submit claims latest by October 15 and update the position as on November 29, 2021 along with principal and intere...
- Bill cleared to allow bank depositors to get up to Rs 5 lakh refund within 90 days under DICGC insuranceDuring a debate regarding the DICGC bill in the Rajya Sabha, it was clarified by the finance minister that PMC Bank depositors will also ge...
- RS passes Deposit Insurance & Credit Guarantee Corporation (Amendment) BillThe Bill proposes that even if a bank is temporarily unable to fulfil its obligations due to restrictions such as moratorium, depositors ca...
- Deposit insurance act amendments okayed, all kinds of deposits up to Rs 5 lakh in all types of banks to be insured98.3 per cent of all deposit accounts will get covered under it, in terms of value of the deposits over 50% coverage. Bank depositors will ...
- Govt may amend DICGC Act in monsoon session to provide timely service to ailing bank depositorsOnce the Bill becomes the law, it will provide immediate relief to thousands of depositors who had their money parked in stressed lenders s...
- Only up to Rs 1 lakh, not all money, insured in banks: RBI-owned subsidiaryFinance Minister Nirmala Sitharaman last month said the government plans to bring in legislation on raising the insurance cover on bank dep...
- Government to set credit guarantee fund to boost low cost homes“RBI has opposed the move on grounds that role of DICGC as a resolution corporation is still not decided,” an official said.
- Banks may have to shell out 50% higher deposit insurance premiumBanks may have to pay a higher premium to the Deposit Insurance and Credit Guarantee Corporation (DICGC) to get deposits up to Rs 1 lakh co...
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