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      Question

      As per RBI directions following the cancellation of

      Shirpur Merchants’ Co-operative Bank’s licence, what is the maximum deposit insurance claim amount a depositor will receive from DICGC?
      A Rs 1 lakh Correct Answer Incorrect Answer
      B Rs 2 lakh Correct Answer Incorrect Answer
      C Rs 3 lakh Correct Answer Incorrect Answer
      D Rs 5 lakh Correct Answer Incorrect Answer
      E Rs 10 lakh Correct Answer Incorrect Answer

      Solution

      As per RBI directions, every depositor of Shirpur Merchants’ Co-operative Bank Limited will receive a deposit insurance claim amount of his or her deposits of a maximum of Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC), subject to the provisions of the DICGC Act, 1961. As of January 31, 2026, DICGC had insured deposits worth Rs 48.95 crore for this bank.

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