Question

Which one is incorrect about the deposit insurance

Q: Answer-Which one is incorrect about the deposit insurance scheme of DICGC?

DICGC insurance is not applicable to the term deposits of NBFCs.

scheme of DICGC?

A Insures depositors of all commercial banks, including LABs and RRBs, and co-operative banks

B Deposits up to Rs.5 lakh are insured

C The scheme is applicable to term deposits of NBFCs

D The corpus of the deposit insurance fund of Rs.602 billion built by DICGC through surplus transfers is used for settlement of claims of depositors of banks taken into liquidation/ reconstruction/amalgamation.

E All are correct

Practice Next

More Economy and Banking and Finance Static Concepts Questions

Where any asset reconstruction company or any person fails to comply with any direction issued by the Reserve Bank under this Act the adjudicating auth...
Bar to further suit to a plaintiff is expressly provided under which section of CPC?
Equal Justice and Free Legal Aid. This is a …
According to the Contract Act under what circumstances is a person deemed to be in a position to dominate the will of another?
The duration of House of People is_________________
Section 151 of the Code of Civil Procedure deals with:
What does the term "transfer of property" mean as per the Transfer of Property Act?
Which Section of the Indian Contract Act, 1872, specifically deals with revocation of proposals and acceptances?
Which one of the following is not the function of EIC?
Compensation under MV Act adjudged by which authority?

Relevant for Exams:

RBI Grade B

GIC Assistant Manager (Scale 1)

Which one is incorrect about the deposit insurance

Solution

Relevant for Exams: