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Deposit Insurance and Credit Guarantee Corporation

Kumari Sonali

Deposit Insurance and Credit Guarantee Corporation:

The Finance Ministry is considering increasing the deposit insurance limit, which currently stands at ₹5 lakh under the Deposit Insurance and Credit Guarantee Corporation (DICGC) Act, 1961.DICGC is a subsidiary of the Reserve Bank of India (RBI) that provides deposit insurance to bank depositors, ensuring the safety of their money in case of bank failures. Operates under the Department of Financial Services, Ministry of Finance.Aim is to protect depositors’ funds and maintain public confidence in the banking system.

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