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      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.

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