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

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Which one is incorrect about the deposit insurance

Solution

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