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      Question

      Deposit Insurance and Credit Guarantee Corporation (

      DICGC ) is a wholly owned subsidiary of Reserve Bank of India . It was established in _____
      A 1957 Correct Answer Incorrect Answer
      B 1978 Correct Answer Incorrect Answer
      C 1989 Correct Answer Incorrect Answer
      D 2001 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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