ppt on dicgc and its working

1. DICGC
DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION

2. OUTLINE
1. What is DICGC
2. Objective
3. Structure of management
4. Process of claim of DICGC
5. Settlement
6. DICGC Settlement Till date

3. Deposit Insurance and Credit Guarantee Corporation (DICGC) is a specialized division of Reserve
Bank of India.
Under the jurisdiction of ministry of finance
 It was established on 15 July 1978 under the Deposit Insurance and Credit Guarantee Corporation
Act, 1961 for the purpose safety to the depositor.
The limit was increased from 1 lakh to 5 lakh on 4th February 2020.
The work of DICGC is to insure the amount of depositor who deposit in banks to remain the faith of
people in the system the DICGC.
WHAT IS DICGC?

4. OBJECTIVE
• RBI has set up the Deposit Insurance and Credit Guarantee Corporation (DICGC) to
protect the interest of small depositors, in case of bank failure. The DICGC provides
insurance cover to all eligible bank depositors up to Rs.5 lakh per depositor per bank.

5. • Officer (Normally in the rank of
executive Director) of the RBI
1st
• One officer from the central
government
2nd
• Five directors nominated by the central
government in consultation with the
RBI
3rd

6. Creation of list of outstanding deposits
(submission within 45days)
Submission of claim list section 18A (2)
Calculation of principal and interest date till cutoff date
List of o/s deposit under bank
(name and detail of depositor is duly signed by the chief executive officer)
Name and detail of depositor is duly signed by the chief executive officer
Statutory audit (confirming deposit, liabilities and the liquid fund)
Verification of total depositor via part A and part B within 90-45 days
(sending of verified list after 90days)
Not submitted their willingness with KYC
Willingness along with KYC
No claim will be accepted in case of not submission of willingness
DICGC of list within 30days
In case of o/s deposits or claim received within 45days, effect of
considered insured bank is not claiming amount
Incase of acceptance discharge of liabilities
PROCESS OF CLAIM OF DICGC

7. SETTLEMENT
Person Saving A/C Current A/C Fixed Account
Total
Deposit
Depostis
Insured
Upon
A 417200 22000 80000 519200 500000
B - 475000 50000 525000 500000
C 97800 - 380000 477800 477800
D - 430000 245000 675000 500000
E 87500 450000 70000 607500 500000

8. Rs. 295.9 crore was paid up till march 2022 toward claims of 27 commercial banks rs.10524.3
crore toward claims of 374 liquidated cooperate banks
Number of insured banks under DICGC stood at 2040 as on march 31/2022
Total premium received by DICGC during 2021-2022 stood at Rs.19491 crore. With commercial
banks contributing 93.6% and cooperate banks amounting 6.4%
In 2020, the government increased the insurance cover on deposit by 5 times to Rs.500000. The
enhance deposit come into effect form feb/4/2020
DCIGC SETTLEMENT TILL THIS DATE

9. THANKS
SAURABH ISAL