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Deposit Insurance And Credit Guarantee Corporation Act Dicgc 1961
Business  /  Published 23.09.21

Payout promise to PMC depositors

Depositors of PMC Bank and 20 other stressed lenders will get up to Rs 5 lakh in the form of deposit insurance from the DICGC. This comes after Parliament passed the Deposit Insurance and Credit Guar...
By Our Special Correspondent in Mumbai

Business  /  Published 02.08.21

Safety net

Last week, the Union cabinet decided to extend the benefits of deposit insurance to banks under moratorium, which would bring some relief to customers whose funds are stuck with banks that are financi...
By Adhil Shetty

Business  /  Published 30.07.21

Govt: Bill to support to depositors of stressed banks

The government on Friday introduced the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill in the Rajya Sabha, which aims to provide timely support to depositors of stressed banks. M...
By Our Bureau, PTI in New Delhi

Business  /  Published 30.07.21

Another co-op bank goes bust

The Reserve Bank of India (RBI) on Thursday cancelled the licence of Goa-based The Madgaum Urban Co-operative Bank Ltd with immediate effect. The RBI said the bank did not have adequate capital and e...
By Our Special Correspondent in Mumbai

Business  /  Published 29.07.21

Cabinet clears deposit cover rule change

The Union cabinet on Wednesday approved amendments to the Deposit Insurance and Credit Guarantee Corporation Act that assures a payoff of up to Rs 5 lakh within 90 days after a moratorium is imposed o...
By Our Special Correspondent in New Delhi

Business  /  Published 14.07.21

Insolvency: focus in Parliament

As many as 23 bills will be tabled  in Parliament during the 19-day monsoon session starting next week. The focus is on the bill to amend the Insolvency and Bankruptcy Code and the amendment to t...
By Our Special Correspondent in New Delhi

Business  /  Published 02.02.21

Budget 2021-22: Deposit cover relief

In what should come as a relief to depositors of stressed or weak banks facing Reserve Bank of India (RBI) action, finance minister Nirmala Sitharaman announced amendments to the Deposit Insurance and...
By Our Special Correspondent in Mumbai


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