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Consider the following statements about DICGC.
(a) DICGC stands for Deposit Insurance and Credit Guarantee Corporation
(b) All commercial and cooperative banks are insured by DICGC
(c) Cooperative societies are not insured by DICGC
Which of the above statements are true? 
  • a)
    Only a
  • b)
    Only a and b
  • c)
    Only b
  • d)
    Only c
  • e)
    Only a, b and c
Correct answer is option 'E'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements about DICGC.(a) DICGC stands for Dep...
Important points about DICGC:
  • DICGC stands for Deposit Insurance and Credit Guarantee Corporation
  • All deposits in commercial and cooperative banks, both domestic and international are insured by DICGC except for deposits by government both domestic and foreign
  • Primary cooperative societies are not insured by the DICGC.
  • DICGC insures maximum of Rupees One Lakh for each depositor which includes both principal and interest
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Consider the following statements about DICGC.(a) DICGC stands for Deposit Insurance and Credit Guarantee Corporation(b) All commercial and cooperative banks are insured by DICGC(c) Cooperative societies are not insured by DICGCWhich of the above statements are true?a)Only ab)Only a and bc)Only bd)Only ce)Only a, b and cCorrect answer is option 'E'. Can you explain this answer?
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