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Question

DICGC is a wholly-owned subsidiary of ____________.

A MoF Correct Answer Incorrect Answer
B RBI Correct Answer Incorrect Answer
C NPCI Correct Answer Incorrect Answer
D IBA Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Deposit Insurance and Credit Guarantee Corporation (DICGC) is a wholly owned subsidiary of Reserve Bank of India. It was established on 15 July 1978 under the Deposit Insurance and Credit Guarantee Corporation Act, 1961 for the purpose of providing insurance of deposits and guaranteeing of credit facilities. DICGC insures all bank deposits, such as saving, fixed, current, recurring deposit for up to the limit of Rs. 500,000 of each deposit in a bank.

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