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      Question

      Consider the following regarding the DICGC: 1. It

      is a fully owned subsidiary of the RBI. 2. It insures both principal and interest up to ₹5 Lakh. 3. It does not cover deposits of State Governments and Central Governments. Which of the statements above is/are correct? 
      A 1 and 2 only Correct Answer Incorrect Answer
      B 1, 2, and 3 Correct Answer Incorrect Answer
      C 2 and 3 only Correct Answer Incorrect Answer
      D 1 only Correct Answer Incorrect Answer
      E 3 only Correct Answer Incorrect Answer

      Solution

      DICGC covers all commercial, local area, and cooperative banks. Government and inter-bank deposits are specifically excluded.

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