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What is bank insurance?


Asked By: Kaia Singh



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7 Answer(s) Available

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As per DICGC rules, each depositor in a bank is insured up to Rs

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98

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As per DICGC rules, each depositor in a bank is insured up to Rs 5 lakh for both the principal and interest amount on depsoits held by him in that particular bank. This includes all deposits held by a person in current account, savings account, fixed deposits and so on.

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Currently, the insurance cover offered by the DICGC covers all different accounts of one depositor held with different branches of the same bank

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4

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Currently, as per the RBI guidelines, deposits with all commercial banks and cooperative banks are insured under the Deposit Insurance and

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A Guide to the deposit insurance and credit guarantee corporation (DICGC). Outline of the System and Q & A. 1. Which banks are insured by the DICGC?

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Each depositor in a bank is insured upto a maximum of 5,00,000 (Rupees Five Lakhs) for both principal and interest amount held by him in the same right and

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Bank insurance is a guarantee by the Federal Deposit Insurance Corporation (FDIC) of deposits in a bank. Created in 1989, the Bank Insurance Fund is the

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