Type of Deposits covered
DICGC protects all deposits such as savings, fixed, current, recurring, etc except the following types of deposits that are payable in India.
- Deposits of foreign Governments
- Deposits of Central/State Governments
- Inter-bank deposits
- Deposits of the State Land Development Banks with the State co-operative bank
- Any amount due on account of any deposit received outside India
- Any amount, which has been specifically exempted by the corporation with the previous approval of Reserve Bank of India.
Maximum deposit amount insured
Each depositor is insured up to a maximum of Rs.1,00,000 (Rupees One Lakh) for both principal and interest amount held by him in the same capacity and same right as on the date of liquidation/cancellation of bank's license or the date on which the scheme of amalgamation/merger/reconstruction comes into force. The deposits kept in different branches of the bank are aggregated for the purpose of insurance cover and a maximum amount up to Rupees one Lakh is paid.