📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!


    Question

    Which one is incorrect about the deposit insurance

    scheme of DICGC?
    A Insures depositors of all commercial banks, including LABs and RRBs, and co-operative banks Correct Answer Incorrect Answer
    B Deposits up to Rs.5 lakh are insured Correct Answer Incorrect Answer
    C The scheme is applicable to term deposits of NBFCs Correct Answer Incorrect Answer
    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. Correct Answer Incorrect Answer
    E All are correct Correct Answer Incorrect Answer

    Solution

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

    Practice Next
    More Economy and Banking and Finance Static Concepts Questions
    ask-question