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Graphic: Dealing with bankruptcy

Total value of insured deposits stood at Rs 28,26,400 crore at the end of March 2016

Business Standard 

Graphic: Dealing with bankruptcy

The Union Cabinet cleared the Financial Resolution and Deposit Insurance Bill, 2017 on June 14. The Resolution Corporation will be set up for dealing with the situation in banks, and It will be a successor to the (DICGC).
 

  • DICGC, a RBI subsidiary, provides insurance of deposits and guarantees credit
  • It provides insurance to all commercial and most cooperative banks
  • insures all deposits — savings, fixed, current, recurring — up to a maximum of Rs 1 lakh per depositor
  • It covered 2,127 and 1682 million accounts in the year of 2015-2016
  • Total value of insured deposits stood at Rs 28,26,400 crore at the end of March 2016
  • The accumulative claims paid by the till March 2016 amount to Rs 5,000 cr 
Graphic: Dealing with bankruptcy

First Published: Sat, June 24 2017. 02:44 IST
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