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Which of the following banks are insured by the Deposit insurance and credit guarantee corporation (DICGC)?
- All commercial banks including branches of foreign banks functioning in India
- All State, Central and Primary cooperative banks
- Regional rural banks
- Primary cooperative societies
Select the correct answer code:
- a)1, 2, 3
- b)2, 3, 4
- c)1, 3, 4
- d)1, 2, 3, 4
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Which of the following banks are insured by the Deposit insurance and ...
Commercial Banks: All commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC.
Cooperative Banks: All State, Central and Primary cooperative banks, also called urban cooperative banks, functioning in States / Union Territories which have amended the local Cooperative Societies Act empowering the Reserve Bank of India (RBI) to order the Registrar of Cooperative Societies of the State / Union Territory to wind up a cooperative bank or to supersede its committee of management and requiring the Registrar not to take any action regarding winding up, amalgamation or reconstruction of a co-operative bank without prior sanction in writing from the RBI are covered under the Deposit Insurance Scheme. At present all co-operative banks are covered by the DICGC.
Primary cooperative societies are not insured by the DICGC.
Cooperative Banks: All State, Central and Primary cooperative banks, also called urban cooperative banks, functioning in States / Union Territories which have amended the local Cooperative Societies Act empowering the Reserve Bank of India (RBI) to order the Registrar of Cooperative Societies of the State / Union Territory to wind up a cooperative bank or to supersede its committee of management and requiring the Registrar not to take any action regarding winding up, amalgamation or reconstruction of a co-operative bank without prior sanction in writing from the RBI are covered under the Deposit Insurance Scheme. At present all co-operative banks are covered by the DICGC.
Primary cooperative societies are not insured by the DICGC.
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Which of the following banks are insured by the Deposit insurance and credit guarantee corporation (DICGC)? All commercial banks including branches of foreign banks functioning in India All State, Central and Primary cooperative banks Regional rural banks Primary cooperative societiesSelect the correct answer code:a)1, 2, 3b)2, 3, 4c)1, 3, 4d)1, 2, 3, 4Correct answer is option 'A'. Can you explain this answer?
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Which of the following banks are insured by the Deposit insurance and credit guarantee corporation (DICGC)? All commercial banks including branches of foreign banks functioning in India All State, Central and Primary cooperative banks Regional rural banks Primary cooperative societiesSelect the correct answer code:a)1, 2, 3b)2, 3, 4c)1, 3, 4d)1, 2, 3, 4Correct answer is option 'A'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following banks are insured by the Deposit insurance and credit guarantee corporation (DICGC)? All commercial banks including branches of foreign banks functioning in India All State, Central and Primary cooperative banks Regional rural banks Primary cooperative societiesSelect the correct answer code:a)1, 2, 3b)2, 3, 4c)1, 3, 4d)1, 2, 3, 4Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following banks are insured by the Deposit insurance and credit guarantee corporation (DICGC)? All commercial banks including branches of foreign banks functioning in India All State, Central and Primary cooperative banks Regional rural banks Primary cooperative societiesSelect the correct answer code:a)1, 2, 3b)2, 3, 4c)1, 3, 4d)1, 2, 3, 4Correct answer is option 'A'. Can you explain this answer?.
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